Guys, GOLD is showing rejection on the Monthly timeframe. In the Weekly timeframe, GOLD is forming a double top. The daily timeframe is showing a bullish engulfing pattern. On the H4 timeframe, GOLD is in a bullish structure, but smaller timeframes are in a bearish trend. Currently, on the H1 timeframe, it is showing rejections from 2388 and creating a structure with higher highs and higher lows.

Starting Monday, I am looking to buy under certain conditions. If GOLD breaks out above the 2341 level, we will shift the structure to the upside. After the breakout, we will wait for the 2314-2318 level, where there is a small Fair Value Gap (FVG) zone, to join the trend. We can set our stop loss at 2300 and our take profit at 2368. After achieving a 1:1 profit, we will move the stop loss to the entry point, allowing us to wait for the take profit with no risk.
Załączniki:

attachedImage