Gold on 4H time frame...maybe baby, not yet firm
Structure is still bearish.
Maybe some early positive signals:
- some positive divergence in haDelta and naturally in haOscillator too
- EWO did not make a lower low, but we don't yet have a positive divergence.
Such as EURUSD or DXY, Gold is a hard call now. I think it can be rather a buy, but I'd like to see some more confirming signals on both 4H and daily time frames to start bottom fishing.
For now I think EURUSD will dip back once more from 1,1200 before the NFP data release, and Gold will likely follow.
However if we don't see a lower low on 4H, then EWO will start to develope bullish divergence too. In that case, we may consider to buy some half trade size.
Real upper key by tomorrow will come around 1320+ as Kijun and Kumo comes slightly lower.
hmmm.... maybe not "we", only YOU, as I will travel tomorrow, so won't be able to react, at least not until late afternoon. But you know me, if I see it flying, I will have no problem to buy it even higher in the evening.
And anyway, I always hold some strategic gold long.
Maybe some early positive signals:
- some positive divergence in haDelta and naturally in haOscillator too
- EWO did not make a lower low, but we don't yet have a positive divergence.
Such as EURUSD or DXY, Gold is a hard call now. I think it can be rather a buy, but I'd like to see some more confirming signals on both 4H and daily time frames to start bottom fishing.
For now I think EURUSD will dip back once more from 1,1200 before the NFP data release, and Gold will likely follow.
However if we don't see a lower low on 4H, then EWO will start to develope bullish divergence too. In that case, we may consider to buy some half trade size.
Real upper key by tomorrow will come around 1320+ as Kijun and Kumo comes slightly lower.
hmmm.... maybe not "we", only YOU, as I will travel tomorrow, so won't be able to react, at least not until late afternoon. But you know me, if I see it flying, I will have no problem to buy it even higher in the evening.
And anyway, I always hold some strategic gold long.
