Four-hour timeframe
This past week Gold lost $54.02 from its $85.76 gain the previous two weeks. This is testament to the strength of the bears stepping in, losing 62% of two weeks gain in one week. Not only that we broke structure lows in a bearish run that lasted over 32 hours. Price is now set to retrace and the only question remains is whether the bulls are strong enough to make this more than just a retrace.
Fifteen-minute timeframe
A lot of noise on this timeframe, but looking at basic structure price is making is a series of higher highs. For now, focus on the 5 minute timeframe for your entry model.
Five-minute timeframe
As I said about the 15-minute timeframe, we are only looking for the bullish entries models on this timeframe. In addition, I hinted to my entry model on the chart, peep closer.
Final Thoughts
The overall 4-hour structure is signaling a bearish turn but we now with all the geopolitical and even economic woes the world is facing, Gold is a safe haven so trade with tight risk management.