GOLD (XAU/USD) Analysis - Bearish bias
Hi Everyone,
It's been a while - I'm sharing with you my analysis on Gold and what I expect to see taking shape this week.
As you can see, I'm bearish on Gold.
I expect price to continue the current upward move to take liquidity above the marked area - however, as we approach 2035-2040 area, price will be facing a strong selling level, where bears could take over control of the market and drop the price lower, to fill those Imbalances as well as unmitigated Order Blocks.
I'll be taking short positions as the market approaches the upper grey area, in confluence with the bearish trendline. It could be a great trade with a largely favourable risk to reward ratio.
Let me know if you have any questions or have different views, I'd love to discuss!
Good luck!
Gaspar_Trader
It's been a while - I'm sharing with you my analysis on Gold and what I expect to see taking shape this week.
As you can see, I'm bearish on Gold.
I expect price to continue the current upward move to take liquidity above the marked area - however, as we approach 2035-2040 area, price will be facing a strong selling level, where bears could take over control of the market and drop the price lower, to fill those Imbalances as well as unmitigated Order Blocks.
I'll be taking short positions as the market approaches the upper grey area, in confluence with the bearish trendline. It could be a great trade with a largely favourable risk to reward ratio.
Let me know if you have any questions or have different views, I'd love to discuss!
Good luck!
Gaspar_Trader
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L.G