hey guys,
what a bullish rally on gold.
3 strong bullish daily candles in a row...
HOWEVER, analyzing the historical perspective we may notice that price is entering a historical resistance cluster:
1780 - 1802 is a supply zone based on 2011 - 2012 price action.
on a daily the price formed a harmonic movement with D point lying perfectly within the underlined structure.
based on that I want to warn you that it is too late to buy and now the best option for us it to wait for a intraday short trade.
(or if you are bullish biased, not trade at all until a good long entry on discount)
pay attention to the price action on 1H and look for a reversal formation.
I will try to catch some quick short trade but for now PATIENCE!
good luck!
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