This is why I like this level. First, there is a Fair Value Gap (FVG). Second, it aligns with a Fibonacci level and a very strong supply zone. On top of that, the 200 EMA is also located around the same area. Together, these factors create a strong confluence, so this will be my preferred seller zone, Insha'Allah, for the coming week.
The main question is: What is the market likely to do from its current position?
The weekly candle closed quite well from a bearish perspective because it closed below the previous week's low. That is a positive sign for sellers. However, there is still a possibility that the market could make a fake breakout to the upside, grab liquidity, and then return to its overall downtrend.
If the price reaches the weekly level and forms a high-quality 15-minute entry setup, it could provide a good selling opportunity. However, I will only take the trade if there is a clear and valid confirmation.
The reason I am interested in this setup is the strong bearish engulfing candle. Although the previous bullish candle was not particularly strong, I believe there is still potential to capture profits from this area. That said, I will not enter without confirmation.
Thanks, everyone.
#XAUUSD #Gold #GoldAnalysis #GoldTrading #Forex #ForexTrading #TechnicalAnalysis #PriceAction #SmartMoneyConcepts #SMC #ICT #FVG #Fibonacci #SupplyAndDemand #Liquidity #Bearish #TradingSetup #SwingTrading #DayTrading #MarketAnalysis #TradingView #ForexCommunity #RiskManagement #WeekendAnalysis #WeeklyOutlook
The main question is: What is the market likely to do from its current position?
The weekly candle closed quite well from a bearish perspective because it closed below the previous week's low. That is a positive sign for sellers. However, there is still a possibility that the market could make a fake breakout to the upside, grab liquidity, and then return to its overall downtrend.
If the price reaches the weekly level and forms a high-quality 15-minute entry setup, it could provide a good selling opportunity. However, I will only take the trade if there is a clear and valid confirmation.
The reason I am interested in this setup is the strong bearish engulfing candle. Although the previous bullish candle was not particularly strong, I believe there is still potential to capture profits from this area. That said, I will not enter without confirmation.
Thanks, everyone.
#XAUUSD #Gold #GoldAnalysis #GoldTrading #Forex #ForexTrading #TechnicalAnalysis #PriceAction #SmartMoneyConcepts #SMC #ICT #FVG #Fibonacci #SupplyAndDemand #Liquidity #Bearish #TradingSetup #SwingTrading #DayTrading #MarketAnalysis #TradingView #ForexCommunity #RiskManagement #WeekendAnalysis #WeeklyOutlook
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.