GC1! Gold 2021 Aug 09 Week

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GC1!


GC1! Gold 2021 Aug 09 Week

Short from Red zone was good, finishing off with a climatic down bar that pushes
through immediate support 1808, and stopped at a previous demand zone.

Weekly: High volume down bar = weakness
Daily: High volume down bar = weakness
H4: UHV Ultra Wide Spread Bar, narrowing of spread. 2nd last bar has high volume.
Some buyers has come into support.

Strategy for Short:
1) Critical support 1754 broken and resisted = Short
2) 1808 tested and resisted = short
3) 1789 tested and resisted = short

Strategy for Long:
1) 1754 breached and market return above it and support = long. Keep stops tight.
2) 1711 supported = long

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Have a profitable week ahead.