Good Month/Week/Day! With the last week insane moves in Gold and major other instruments, I think Gold will enter in a phase of CONSOLIDATION. A quick retest of last Year High, then a few waves of consolidation between TLs. This phase will allow the creation of a strong area of Resistance/Support that will give a base for the next move up. The Monthly close candle is bullish but with a large wick from the top. The Weekly candle was bearish. The Daily candle is also a strong bearish one. {image} {image} {image}
or it might be just my imagination of being over cautious
{quote} Hello dear friend ! What do you see if you look at a painting from a distance of 10 cm ?! Nothing, just the color and texture of the painting ! That's right! Now look at this painting from a distance of 10 meters! What do you see, a beautiful picture and a masterpiece of the painter's art! Now look at a chart every day from the weekly, daily, and 4-hour time frame and mark the important points of supply and demand ! The same support (bottom) and resistance (ceiling) ! Now in the lower times, no matter how high and low the trend goes, you...
Yesterday's move have hit the weekly supports after the pump then dump...I just don't like today's candles formations vs $..it looks like a deception is underway...anyways I expect a bullish movement first but the question how bullish it can go and will it really retrace back down as yesterday's candle or keep going up... All by all, it can be something is being cooked
