This is a great example of the wyckoff accumulation, as I've also noted on the 1hr $SHOP chart.
Considering GOLD is heading back to $1600, I think this is a good play with stops below 4.59.
Target #1 = $5.53 (Gap fill)
Stop = $4.64
Current = $4.93
R/R of 2:1. Not ideal, but with the wyckoff accumulation pattern and gold's macro bullish chart, I think it's worth it.
Considering GOLD is heading back to $1600, I think this is a good play with stops below 4.59.
Target #1 = $5.53 (Gap fill)
Stop = $4.64
Current = $4.93
R/R of 2:1. Not ideal, but with the wyckoff accumulation pattern and gold's macro bullish chart, I think it's worth it.
