Todays analysis is focused on Gold as it is really having 2 great swings each day. Today the swings were $25. We had good reasons to get into both swings. The up move was was a breakout from a 5 min CCH bar on very high volume for 09:00 and the second was a very good supply zone formed about 45 minutes before the down move started.
There was a supply zone just above, which was formed 2 days earlier, but it was invalidated by HVC basing and RPM breakout just under the supply zone, but a new intraday zone was formed on the large tick and volume charts. We then had a smaller HVC supply zone formed within the larger zone for a better entry on the small tick chart (400). See charts for details.
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