Gold-Algo here



(1)

looking at gold in its daily chart, the price is stuck under a resistance that has been tested for multiple of times and still is strong however the continuation of higher lows and the push to the top with tighter and tighter legs seems the price insists on breaking that resistance.


(2)


2. on the 4H chart, the price has entered the block ordered and reacted to the 50% level of the OB candle(s). right after is a minimal reaction and move down, but with the strong push to the top, the bullish sentiment of the market and etc..., the price will linger in the OB.



(3)


3. now in the 15M chart, if the price breaks the red line, we can be more confident and positive in a strong bear move to 3330.


NOW,


gold is very much affected and its actions are very much related to the news, China-Taiwan conflict, Russia-Ukraine war, Trump vs cook/FederalReserve news and... all these news, data, quotes, public speaks and tweets and... pushes gold up. so have it in mind that trading bearish is super risky.


Gold-Algo