BULLISH OUTLOOK
As stated in the last update, there was a bull flag forming on D1 Chart, a breakout of the bull flag to the upside would indicate price is likely to go up towards 1900 and above.
Gold has broken out and reached 1875 and is now consolidating.
Taking into considertion areas of liquidity (Sell side in RED flags, Buy side Liquidity in BLUE Flags) there are more liquidity to grab from the upside than below hence I am going to remain bullish on Gold.
Also the Seasonal outlook is still bullish until end of February.
Although the outlook is bullish we can still expect some retracements.
I will only be considering new positions if there is a retracement below 1855.
BEARISH OUTLOOK
If we get a D1 candle body close below 1815 area, this will indicate price is heading towards 1790-1750 liquidity zones.
As stated in the last update, there was a bull flag forming on D1 Chart, a breakout of the bull flag to the upside would indicate price is likely to go up towards 1900 and above.
Gold has broken out and reached 1875 and is now consolidating.
Taking into considertion areas of liquidity (Sell side in RED flags, Buy side Liquidity in BLUE Flags) there are more liquidity to grab from the upside than below hence I am going to remain bullish on Gold.
Also the Seasonal outlook is still bullish until end of February.
Although the outlook is bullish we can still expect some retracements.
I will only be considering new positions if there is a retracement below 1855.
BEARISH OUTLOOK
If we get a D1 candle body close below 1815 area, this will indicate price is heading towards 1790-1750 liquidity zones.
