The Gold Waiting Game (Short Term)
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I'm very bullish on Gold long term, but for a short term analysis as we open the week we have two potential VWAP gaps to fill. If you do not understand VWAP feel free to comment below. The gaps usually fill at some point.
Either we are going to fill the higher one around 1435 or the lower one at 1412 that never filled. Being that it's in a bullish pattern on the hour, it should break out of the triangle and head up.
Another possibility is that gold forms a H&S and heads down but that would mean that gold is going to reverse and become bearish which I think is the lesser likely scenario.
Excited to see the London and NY open to see what they want to do with it. Take your pick.
Either we are going to fill the higher one around 1435 or the lower one at 1412 that never filled. Being that it's in a bullish pattern on the hour, it should break out of the triangle and head up.
Another possibility is that gold forms a H&S and heads down but that would mean that gold is going to reverse and become bearish which I think is the lesser likely scenario.
Excited to see the London and NY open to see what they want to do with it. Take your pick.
Nota
Nota
Still in the party zone, updated the triangle. Nota
NY close for today still didnt push it either way, still in the waiting game. Nota
Well, we broke below during the Asia and UK session but the US has now bought it back into the triangle to try and push it up. Very little trading for me with the indecision in the market currently. Nota
Almost hit my 1412 TP.
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