– Gold went as expected but 1 unexpected thing happened that there was a fake break through 1879 in the European session before the market reversal pushed Gold to 1867.
– Observing the H4 timeframe, we see that the market still holds in the range of 1870 – 1879 (Although there is a false breakout candlestick upwards) => Still sideways in this area.
– In Timeframe D1: there appears a Doji candlestick showing the tug-of-war of the market between 2 factions of bulls and bears. However, before the Doji candlestick, it is 1 tree D1 increase=> This is a signal that the bulls have exhausted, so the Blackmantrader is still leaning to the downtrend.
– Gold today will have a scan to 1879, then we wait for a possible reversal signal of 1 pinbar, 1 bearish engulfing to enter a Sell order with Sl at the tail of yesterday’s D1 candlestick.
Command reference:
Sell 1879
S.L. 1885
TP1: 1870
TP2: 1865
