GOLD is still making higher highs and higher lows on the 4hr n daily which is very bullish
but...
creating a upwards wedge with decrease in volume is not bullish.
taking a look at the 1hr we see big red candles! bearish short term.
look for liquidity
price action: (sell)
en 1902-1905
sl 1912
tp 1881
if price continues to follow the trend then price should very well buy after touching the 50ma
watch the 50MA
trend: (buy)
en 1903
sl 1893
tp1 1920
tp2 1927
early entry RIGHT NOW buy @1897 and hold to a higher high. tight sl @1893
but...
creating a upwards wedge with decrease in volume is not bullish.
taking a look at the 1hr we see big red candles! bearish short term.
look for liquidity
price action: (sell)
en 1902-1905
sl 1912
tp 1881
if price continues to follow the trend then price should very well buy after touching the 50ma
watch the 50MA
trend: (buy)
en 1903
sl 1893
tp1 1920
tp2 1927
early entry RIGHT NOW buy @1897 and hold to a higher high. tight sl @1893