Gold Analysis - June 3-4th 2021
Hello,
We are approaching a fundamental rally between tomorrow and Friday with the following economic events:
ADP (Automatic Data Processing) Non-Farm Employment - Expecting bad numbers
Unemployment Claims - Expecting bad numbers
PMI - Expecting good numbers
Average Hourly Earnings - Expecting bad numbers
NFP - Expecting good numbers
Unemployment Rate - Expecting good rate
Taking all this information and analyzing it, there is a 50/50 expectation towards the market. There is a very high possibility that Gold will drop into recent demand areas where Buys for me make a lot more sense at the moment continuing the strong bullish momentum it has had. I will be analyzing the following areas for High Risk High Reward Buys:
Zone 1 - 1893 (HRHR Buys)
Zone 2 - 1883 (HRHR Buys)
1st TP - 1912
2nd TP - 1923
From here to tomorrow I can easily see there will be consolidation preparing for the news on Thursday and Friday. If you see price taking a specific direction then consolidating it is preparing to do the complete opposite. In my experience Gold sets and prepares itself at a certain area which becomes a high demand zone, order block and then once news is released the orders will release as well.
Safe trading!
We are approaching a fundamental rally between tomorrow and Friday with the following economic events:
ADP (Automatic Data Processing) Non-Farm Employment - Expecting bad numbers
Unemployment Claims - Expecting bad numbers
PMI - Expecting good numbers
Average Hourly Earnings - Expecting bad numbers
NFP - Expecting good numbers
Unemployment Rate - Expecting good rate
Taking all this information and analyzing it, there is a 50/50 expectation towards the market. There is a very high possibility that Gold will drop into recent demand areas where Buys for me make a lot more sense at the moment continuing the strong bullish momentum it has had. I will be analyzing the following areas for High Risk High Reward Buys:
Zone 1 - 1893 (HRHR Buys)
Zone 2 - 1883 (HRHR Buys)
1st TP - 1912
2nd TP - 1923
From here to tomorrow I can easily see there will be consolidation preparing for the news on Thursday and Friday. If you see price taking a specific direction then consolidating it is preparing to do the complete opposite. In my experience Gold sets and prepares itself at a certain area which becomes a high demand zone, order block and then once news is released the orders will release as well.
Safe trading!
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