Looking for a simple trend continuation trade here on gold as the market consolidates in it's latest pullback. The "Initial Killzone" that i drew out is a combination of the two bigger killzones that I've identified combined with levels of Fibonacci ratio confluence.
If you were to zoom out to the daily chart you'll also notice a previous level of structure support that may now act as potential resistance rest there as well.
Speaking of the daily, i'm getting somewhat of a mixed signal from the chart. An initial looks shows clear sailing down to 1100-1050's level, however I would suspect that the previous level of inside consolidation won;t make that ride so easy.
Not to mention the unexpectancy that comes with this being a non farms week.
If you were to zoom out to the daily chart you'll also notice a previous level of structure support that may now act as potential resistance rest there as well.
Speaking of the daily, i'm getting somewhat of a mixed signal from the chart. An initial looks shows clear sailing down to 1100-1050's level, however I would suspect that the previous level of inside consolidation won;t make that ride so easy.
Not to mention the unexpectancy that comes with this being a non farms week.
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Follow Me OnSocial Media
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It can go down again.
Good Luck.