Gold broke a weekly structure yesterday and is retesting previous lows before returning to the downside toward our demand area.
The doji candle at 1am indicated the retracement may be ending and we're expecting price to break yesterdays low at 1877.9 and continue down to the 1865 area.
According to the stochastic RSI we are overbought which means we will see buyers taking profits and sellers entering the market, solidifying our bias.
Entry 1889
TP1: 1878
TP2: 1868.5 (above the demand area to be safe)
The doji candle at 1am indicated the retracement may be ending and we're expecting price to break yesterdays low at 1877.9 and continue down to the 1865 area.
According to the stochastic RSI we are overbought which means we will see buyers taking profits and sellers entering the market, solidifying our bias.
Entry 1889
TP1: 1878
TP2: 1868.5 (above the demand area to be safe)