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MichaelL200

Gold, Daily, The last decline before the increase?

Short
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
MichaelL200 Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Supply and Demand Gold XAUUSD XAU Silver Commodities analogy 2008analogy 2008 S&P 500 (SPX500)
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trendanalysis supplyanddemand gold xauusd xau silver commodities analogy 2008analogy 2008 spx500
On the XAUUSD chart, a clear SMC setup is seen. After the liquidity grab, the price has reacted to the weekly daily-refined supply zone with a Head and Shoulders formation (4H). To complete this formation, the price might bounce off the 4-hour flip zone. Drops, breaking through the support and making the next break of structure, can stop at the nearest demand zone and, following the 2008 analogy, start increases in the gold price. I will publish an idea about this analogy, as I did with the S&P 500 index and VIX. Check out my related ideas as well.
Comment:
Too much momentum, the zone will probably be runned over.

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