Gold is currently showing a significant technical reaction following a deep retracement. After a series of volatile moves and a clear Market Structure Shift (MSS) on the higher timeframe, price has tapped into an Extreme Pivot Point and a fresh Demand Zone located between the 4,680 and 4,740 levels.
Key Technical Observations:
Extreme Demand Tap: Price has efficiently mitigated the extreme discount array, clearing out liquidity before showing an aggressive impulsive bounce.
CH OCH & BOS: The previous price action confirmed a Change of Character (CH OCH) followed by a Break of Structure (BOS), indicating that the long-term bullish narrative remains intact despite the recent dip.
Current Price Action: We are seeing a recovery from the lower demand block. A successful hold above this "Extreme Pivot Point" suggests that the sell-side momentum is exhausted.
Target: The immediate objective is the liquidity sitting at the 4,800 psychological level, which aligns with the previous structural breakout point.
Trading Plan:
Look for lower timeframe confirmations (such as an FVG or a smaller BOS) within the current demand zone to capitalize on the move toward the 4,800 target. A break below the extreme pivot point would invalidate this bullish outlook.
Key Technical Observations:
Extreme Demand Tap: Price has efficiently mitigated the extreme discount array, clearing out liquidity before showing an aggressive impulsive bounce.
CH OCH & BOS: The previous price action confirmed a Change of Character (CH OCH) followed by a Break of Structure (BOS), indicating that the long-term bullish narrative remains intact despite the recent dip.
Current Price Action: We are seeing a recovery from the lower demand block. A successful hold above this "Extreme Pivot Point" suggests that the sell-side momentum is exhausted.
Target: The immediate objective is the liquidity sitting at the 4,800 psychological level, which aligns with the previous structural breakout point.
Trading Plan:
Look for lower timeframe confirmations (such as an FVG or a smaller BOS) within the current demand zone to capitalize on the move toward the 4,800 target. A break below the extreme pivot point would invalidate this bullish outlook.
Trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.