RETRACEMENT TO 70.5% (?) - XAUUSD
I was wrong about the bear trap at 2600.
2540 served as a stronger support, matching an imbalance area in HTF of 1D.
It was natural and necessary in order for buying interest to come in at such better discount level.
Now, let's see if we manage to anticipate a probable retracement of this week's and last week's fall.
Here, I try to illustrate with annotations the possible outlook for gold and it's potential pattern formations along with its areas of consolidation and liquidity grabs.
It's just an outlook and a fun drawing of the market. Let's see what happens.
-
GOOD LUCK!
2540 served as a stronger support, matching an imbalance area in HTF of 1D.
It was natural and necessary in order for buying interest to come in at such better discount level.
Now, let's see if we manage to anticipate a probable retracement of this week's and last week's fall.
Here, I try to illustrate with annotations the possible outlook for gold and it's potential pattern formations along with its areas of consolidation and liquidity grabs.
It's just an outlook and a fun drawing of the market. Let's see what happens.
-
GOOD LUCK!
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