🥇 Gold.
📉 On the 1-hour timeframe you can see that gold made several moves down and then formed a sloping trendline. After that, the trendline was broken.
It is quite likely that gold will continue its move toward the 4390 level, where the order block is located.
📈 If we look at the 4-hour timeframe, we can also see that gold collected liquidity at the 4313 level and started a reversal after that. This liquidity grab also happened around the 61.8% Fibonacci zone, which is an ideal average point for a reversal during an ongoing trend.
If the reversal plays out, gold will continue its move to the 4450 level, and then most likely to 4500 and 4600.
📌 Save this analysis to check it later
$PAXG
📉 On the 1-hour timeframe you can see that gold made several moves down and then formed a sloping trendline. After that, the trendline was broken.
It is quite likely that gold will continue its move toward the 4390 level, where the order block is located.
📈 If we look at the 4-hour timeframe, we can also see that gold collected liquidity at the 4313 level and started a reversal after that. This liquidity grab also happened around the 61.8% Fibonacci zone, which is an ideal average point for a reversal during an ongoing trend.
If the reversal plays out, gold will continue its move to the 4450 level, and then most likely to 4500 and 4600.
📌 Save this analysis to check it later
$PAXG