oh the other hand... although price seems very bullish today, which might also continue for the rest of the week but because of the are price is at now, we might see price reject here to retest the previous breakout before continuing with the bullish move. if price breaks out at this area then price...
gold has been very interesting lately and since this is still the beginning of the week, having that gold has corrected 50% of last weeks move and has already reached a daily high that was created. we are expecting price to drop a bit lower first, even as low as to retest yesterdays low and the week...
its the beginning of the year,markets are still unstable and a bit risky. however one of the view we are looking at this week will be bullish move for the wickfill as price has been bullish for the previous weeks and has already made its retest.
price has completed the drop setup we were looking at last week. price will take its time from here but we should at least see a retest as the level it broke was pretty strong, then if it respects our level at 1835.84, we should see it give us another drop to our orderblock.
if usdcad holds and respects this breakout, it will mean our bullish run will continue. fro here we need price to retest and respect for it to keep pushing to our target. on the daily timeframe, we have a wick that needs to fill. the test and bounce should push price to complete the wickfill
price could be ranging on the h4 timeframe in this area as for the past weeks we have had high volume weeks, meaning this week could be a reset week. price seems to be creating a lower high here and if it respects this lower high then we could see price drop to our h4 support.
gold has broken the trend and analyzing using elliott waves , right now we can say price is in impulse wave three preparing to complete for price to reject our range high giving us wave four. this will take a few days to unfold so its better to be patient.