After properly collecting our data from the Monthly timeframe, we have identified our Monthly market structure which price successfully rejected the resistance twice
2070
. NOW Market is about approaching the same monthly structure the third time again.
Using the last two price data, market rejected the monthly level and rapidly, the price declined to the downside making a new lows. Moving lower to weekly and daily timeframe, the current push to the upside shows a valid uptrend (Impulsive & Correction) and now we are currently in the impulsive phase of the daily timeframe.
The 4 Hours shows how price is moving on a more clearer view and we're anticipating price to hit the MONTHLY resistance before we have a new drop to the downside....
GOLD ANALYSIS ON 4 HOURS.
2070
. NOW Market is about approaching the same monthly structure the third time again. Using the last two price data, market rejected the monthly level and rapidly, the price declined to the downside making a new lows. Moving lower to weekly and daily timeframe, the current push to the upside shows a valid uptrend (Impulsive & Correction) and now we are currently in the impulsive phase of the daily timeframe.
The 4 Hours shows how price is moving on a more clearer view and we're anticipating price to hit the MONTHLY resistance before we have a new drop to the downside....
GOLD ANALYSIS ON 4 HOURS.