Short Term Pullback preceding CPI // Gold ð§đ
I believe it's possible to observe a Pullback prior to CPI data on Wednesday for Gold. CPI is anticipated to increase once again which is not great for the Fed's inflation goals. This could cause more buying pressure on gold. In the meantime, we've seen a nice Higher High of 1hr market structure to begin the week. This seems like a solid liquidity move preceding a pullback to liquidate late buyers at all time highs here prior to CPI.
I think a pullback to 2305 1hr zone or 2291 Daily level is possible prior to CPI data. Safe trading. We may snapback to 2338 or 2353 where I'm anticipating selling pressure. The idea is get out prior to CPI which could cause massive buying pressure. We have 3-4 trading sessions in the meantime for possible shorts.
I think a pullback to 2305 1hr zone or 2291 Daily level is possible prior to CPI data. Safe trading. We may snapback to 2338 or 2353 where I'm anticipating selling pressure. The idea is get out prior to CPI which could cause massive buying pressure. We have 3-4 trading sessions in the meantime for possible shorts.
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gold is entering our short scenario prices 2,344$ , This area may facilitate a pullback prior to CPI , this is the whole idea behind this publishing , we'll see, always risk management comes first
