12042020 Gold Nugget

12 Dec 12042020 Gold Nugget

I learned that with a devel­op­ing H4 price pat­tern to guide me, the low­er time frame price behav­iour becomes way more appar­ent. Espe­cial­ly when com­bined with mar­ket open sen­ti­ment and pro­file con­firm­ing the thesis. 

The devel­op­ing price pat­tern was a H4 Ral­ly Base Ral­ly where the Ral­ly after the Base wasn’t formed yet. But due to the H4 hori­zon being well… 4 hours long.. You can see on the low­er time frames if indeed this ral­ly is form­ing after the base was cre­at­ed. If it had gone the oth­er way it would have been a THree Inside Down. Same prin­ci­ples of obser­va­tion and analytics.