Here's a quick breakdown of how i go about developing a bias for the gold for the week.
It's not often i swing gold, i usually scalp. But, i always do this first. I see what the HTF's are showing from a swing point of view and if it's highlighting any key areas I need to take note of.
Here we can see we've had not just a B&R of the descending TL but recently a bounce off that TL again and that key area around 1730.
Also, even though it looks like we're in an uptrend on the LTF's, we can see that we bounced perfectly off the 61.8 fib and really key area at 1800. So what does this mean?
Well basically, it means we're bullish until 1800. So now we have our bias, I can drop to the LTF's and find my zones.
It's not often i swing gold, i usually scalp. But, i always do this first. I see what the HTF's are showing from a swing point of view and if it's highlighting any key areas I need to take note of.
Here we can see we've had not just a B&R of the descending TL but recently a bounce off that TL again and that key area around 1730.
Also, even though it looks like we're in an uptrend on the LTF's, we can see that we bounced perfectly off the 61.8 fib and really key area at 1800. So what does this mean?
Well basically, it means we're bullish until 1800. So now we have our bias, I can drop to the LTF's and find my zones.