Good morning!
On the H4 chart Gold is on the way to the bottom channel line which is supported by a fair value gap.(2886-2876)
On H1 we are out of the channel, below, inside a large demand zone ( 140 pips) (2881-2995) and there is a fair value gap at the bottom of the zone.
Conclusion ...i will wait to see if the trendline in H4 and the demand zone in H1 holds or breaks and i will take my trade accordingly.as we dropped over 500 pips in 2-3 days..I am looking to buy today....until the trendline and the zone holds!
On the 1 minute chart where i open my trades we are still in a bearish trend but inside a large demand zone , the channel is expanding and in decision....the fast trendline is bullish but the price is below at the moment.We are above the ichimoku cloud...which i really consider before i take a trade..
Check out the whole system :https://www.mql5.com/en/users/gabedk/seller
