Last time I shared my analysis on Gold.
It seems that the price did as expected. Reached back to the nearest demand zone and in a sign of exhaustion reversed its direction.
Since then, the price has been up by over 600+ pips.
It has currently reached a resistance level, so I would not normally do anything crazy at this moment.
AUDUSD Trading Analysis 12.10.2023
I am looking at the AUDUSD pair today.
It looks to me that the price is going to re-bounce from the nearest supply zone as shown in the screenshot above.
There is an inside day candlestick on the daily chart.
This is a good confirmation that the price might resume its downtrend.
I will be looking for a possible retracement back to 0.6425 and a 4H confirmation candlestick.
This would be a good sign for me to possibly go short.
Until that happens, I will be patiently waiting.
Did you get a chance to review my recent candid reflection on how it feels to be going through a losing streak?