Gold shows a strong impulsive move to the upside, breaking out of the previous consolidation zone with momentum. However, price faced a sharp rejection near the recent high, indicating potential exhaustion.
Currently, price is pulling back after the spike, forming a lower high structure on the lower timeframe. This suggests a possible short-term bearish correction.
Key Points:
Strong bullish breakout followed by aggressive rejection
Liquidity grab above recent highs
Bearish structure forming (lower highs)
Price likely to retrace into imbalance / demand zone below
Trade Idea:
Entry: Around current resistance / pullback zone
Stop Loss: Above recent high
Target: Previous support / demand area
If momentum continues to the downside, we can expect price to fill the imbalance and revisit the support zone marked below.
Currently, price is pulling back after the spike, forming a lower high structure on the lower timeframe. This suggests a possible short-term bearish correction.
Key Points:
Strong bullish breakout followed by aggressive rejection
Liquidity grab above recent highs
Bearish structure forming (lower highs)
Price likely to retrace into imbalance / demand zone below
Trade Idea:
Entry: Around current resistance / pullback zone
Stop Loss: Above recent high
Target: Previous support / demand area
If momentum continues to the downside, we can expect price to fill the imbalance and revisit the support zone marked below.
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