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Gold Setup.. we have two potential levels where Gold might sell from but we have to wait and get confirmation in the lower time frame(Market Shift in Structure)..
Hello Team
We are back at it, we will be consistent with the charts now and please make sure you take time to go through and analyze based on your knowledge
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We start Analyzing with DXY to understand where USD is likely to go..
DXY Analysis.. Dollar Index has been pushing to the upside and now we had a retracement, we are currently waiting to see how price will react on the Weekly Open and continue to see price push upwards.. if not then price has to come all the way down from the initial start and we can anticipated Bulls to come back but if the trend line is broken then it means Bears are in for a long term
We also look at JPY Basket
JPY Basket from Weekly Time Frame.. Price has been Dropping which lead to the weakness of all JPY Base to go up
Based on the DXY and JPY Basket we will now look at GBPUSD, Gold & BItcoin for now
GBPUSD Daily Time Frame.... Based on Dollar Index.. if USD gets strong we then we see price drop and take out Liquidity and reach out for the Demand which is a RBR
Gold Analysis.. we saw Price shoot to the upside during NFP and price left an Imbalance, therefore if price might retrace first and decide if it will continue with the upward movement or continue to drop but currently price is ranging from a higher time frame
Gold on 4H and 1H