A daily gold candle is showing a switch from a bearish to a bullish trend with a possibility of a temporary bullish trend. The four-hour structure suggests a retest of resistance, and the story gets interesting in the one-hour timeframe. A retest is necessary for a continued move up. The 30-minute candle lacking a wick on top shows that it may fall back before continuing up. A pullback to 1774 is expected before the continuation of the trend towards the upside.
Analyzing Gold Trends in the New York Session Live Stream
Introduction
– Overview of the New York Session Live Stream on December 6th
Daily Time Frame Breakdown
– Analysis of the current candle and trend
– Explanation of liquidity taken from the top on the previous candle
Four Hour Time Frame Analysis
– Consideration of double tops and fake outs
– Importance of four hour closure
One Hour Time Frame Examination
– Resistance and support levels
– Potential for a new demand on lower time frames
– Clean range up to the supply area as a possible target if closure happens above resistance
30 Minute Time Frame Assessment
– Identification of resistance and zones
– Importance of a retest
15 Minute Time Frame Analysis
– Adjustments to levels
– Consideration of a pullback
Five Minute Time Frame Insight
– Identification of a resistance
Conclusion
– Recap of analysis
– Congratulatory remarks to successful traders on the stream.