Flip retest, Lower high short.

٩ أغسطس ٢٠٢٤

Price has been creating new lower highs and lower lows coming into the new month, using the higher timeframe also, using the channel (three touches) and trendline to confirm my bias for the week because of the lower high retest and weekly retest, the double top extended acts as source of confirmation, for the new resistance (0.60260). Can only wait and see if that is true (support and resistance)

٢٤ أغسطس ٢٠٢٤

ملاحظة

No clear signal of short played out but a clear breakout and retest occurred which is a sign of a continuation to the upside. Gold is still bullish at the moment until after election and the end of the financial year of 2024/2025 and Gold, the Kiwi and Australian Dollar are positively correlated.