Gold long analysis
1. Last week ended closing above a previous H4 support and resistance
2. the Daily also closed above a low that produced a 600 pip move
3. the daily also broke a respected bullish trendline (Sept 22-Oct 27) & broke a support.
--> This Daily also closed as a retest on that breakout
---> So we will see if how the market open for Daily wants to move and see if we get a follow through for Daily timeframe or if price will use the higher close to move to the upside past the breakout point on H4
- I am looking at price to move toward to H4 breakout point to continue to create a new leg of bullish structure for the Daily
OR
- IF price gets the H4 breakout point and doesn't continue past it, then i would say that it will be double topping there or creating a new continuation zone to go lower to attempt to take out the Daily HL point to enter bearish market flow
2. the Daily also closed above a low that produced a 600 pip move
3. the daily also broke a respected bullish trendline (Sept 22-Oct 27) & broke a support.
--> This Daily also closed as a retest on that breakout
---> So we will see if how the market open for Daily wants to move and see if we get a follow through for Daily timeframe or if price will use the higher close to move to the upside past the breakout point on H4
- I am looking at price to move toward to H4 breakout point to continue to create a new leg of bullish structure for the Daily
OR
- IF price gets the H4 breakout point and doesn't continue past it, then i would say that it will be double topping there or creating a new continuation zone to go lower to attempt to take out the Daily HL point to enter bearish market flow
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