Before:
After:
The drawings were removed by TV for some reason but as you see we in a way followed path B but we just didn’t create the H&S. Now we can expect to come down for a retest before continuing up, unless it breaks bullish market structure.
Upcoming USD News:
- Thursday
- Building Permits
- Previous: 1.3M
- Forecast: 1.29M
- Unemployment Claims
- Previous: 261K
- After: 151K
- Crude Oil Inventories
- Previous: -4.9M
- Building Permits
Monthly: Now that we found out that USDJPY was lying, I am very certain that Gold will be creating new highs and first target will hit the red line.
Weekly: Weekly closed extremely bullish again, no signs of exhaustion or reversal. I easily see the resistance being tested before coming down to create a higher low to get fuel to break through that strong weekly resistance.
Daily: As you can see market always respects structure. We broke resistance, retested it and now looking to create a new high. Don’t worry if you missed out because most likely we will retest before we break the extremely strong resistance.
H4: Here I had to zoom out to show the levels I was looking at. As you can see we are in the middle of the zone. So I expect us to either get some sort of retest or shoot up to resistance and bounce down to give a retest.
Overall Gold Analysis
I said last week either Gold or USDJPY was lying, and as you can see in the charts UJ was lying. Now we wait for a retest before further continuation high to the monthly red line resistance.
Predicted Movement:
I explained why above why I see what I see. For C to come true we have to break bullish structure. Either we break this week, which I doubt, or we go to resistance and instead of retest and continue higher we will continue lower.
