Friday Gold Shorts 05/03/24

3 de mai.

Overall we are trending up on the weekly time frame. We are now having a pull back. The previous weeks candle closed very bearish. We have a weekly gap that we need to fill and it looks like within that gap, there is an area where price had a lot of aggressive buyers & sellers. This price tag is 2262.3. I will be looking to short that once we break out of our consolidation and break Thursdays low at 2294. My overall target is 2257.1 because that is the gap fill but I think we need to at least hit 2262.3 this Friday. I may also look for longs at that level depending on how impulsive the reaction will be from there.