Gold 1 HR potential downtrend

٢٩ أغسطس ٢٠٢٤

Gold seems to be heavily over extended. Gold has recently broken the 1 HR structure to the downside. We have since retraced 100 %. Afterwards the internal structure went on to also brake strucuture to the downside aligning itself with the 1 HR. The internal strucuture has now retraced to the 61.8% Fib level simultaneously taking buy side liquidity. From here I'm expecting price to create a new leg to the downside to take out sell side liquidity and potentially break the 1 HR low.