Intraday Analysis - GOLD - ( 1 MAR 2023 )
Expected deeper pullbacks as nearing the end of the month , price love to retest setting up for better sel side liquidity zones . Pullback buys played out with price action confirmations and surprisingly bad economic data. However our bias stands and will still be looking for shorts this month.
Will adapt to buys if Gold starts trading above 1836 with a possibility to retest greater sell side liquidity zones at 1848 / 1855 region
HRHR buys 1836
Do not marry the bias if you’re taking this long as overall fundamental sentiment still points towards a bearish bias
Will look for continuation sells upon a break below 1828 key level.
HRHR SELLS 1832
MRMR SELLS 1828
SAFEST SELLS BELOW 1820
We have fundamental data tonight whereby if ISM manufacturing PMI comes out as per forecasted or better than forecasted we may get back dollar dominance.
It is also common for price to retest better sell side liquidity before a month end. Something to note.
Expected deeper pullbacks as nearing the end of the month , price love to retest setting up for better sel side liquidity zones . Pullback buys played out with price action confirmations and surprisingly bad economic data. However our bias stands and will still be looking for shorts this month.
Will adapt to buys if Gold starts trading above 1836 with a possibility to retest greater sell side liquidity zones at 1848 / 1855 region
HRHR buys 1836
Do not marry the bias if you’re taking this long as overall fundamental sentiment still points towards a bearish bias
Will look for continuation sells upon a break below 1828 key level.
HRHR SELLS 1832
MRMR SELLS 1828
SAFEST SELLS BELOW 1820
We have fundamental data tonight whereby if ISM manufacturing PMI comes out as per forecasted or better than forecasted we may get back dollar dominance.
It is also common for price to retest better sell side liquidity before a month end. Something to note.