Gold keeps showing bullish behavior on the lower timeframes, but the higher timeframe picture still needs confirmation.
On the weekly timeframe, the minor structure is slowly starting to rotate. For this view to fully develop, we need continued bullish structure on the lower timeframes. However, for now, the weekly structure is still considered bearish overall.
On the daily timeframe, the view remains mostly unchanged from yesterday. We still do not have a fully confirmed bullish daily structure. Ideally, the market needs a daily pullback followed by another bullish impulsive move before we can officially consider the daily structure bullish.
If price manages to consume the liquidity inside the supply zones mentioned in yesterday’s analysis, the next higher timeframe supply block around 4767.45 could become the next target.
On the 4H timeframe, the minor structure already shifted bullish as discussed yesterday. The bearish reactions from the marked supply zones only created new demand clusters, which may now act as protection against deeper sell-offs.
The 1H timeframe is also bullish on the minor structure, with yesterday’s consolidation areas creating valid demand zones that may continue supporting price higher.
On the 15M timeframe, both major and minor structures remain strongly bullish. For now, any bearish movement may simply act as a lower timeframe pullback before bullish continuation.
My overall view:
Even with the current bullish momentum, I still consider buying at these premium prices relatively risky.
That said, I personally accepted that risk and entered longs from yesterday’s demand zones.
As for bearish setups, I’m not interested unless we get valid major bearish structure shifts on the 15M timeframe.
If you are a low-risk trader, staying patient and simply observing the market may be the best decision for now.
Follow the updates for possible structure changes.
On the weekly timeframe, the minor structure is slowly starting to rotate. For this view to fully develop, we need continued bullish structure on the lower timeframes. However, for now, the weekly structure is still considered bearish overall.
On the daily timeframe, the view remains mostly unchanged from yesterday. We still do not have a fully confirmed bullish daily structure. Ideally, the market needs a daily pullback followed by another bullish impulsive move before we can officially consider the daily structure bullish.
If price manages to consume the liquidity inside the supply zones mentioned in yesterday’s analysis, the next higher timeframe supply block around 4767.45 could become the next target.
On the 4H timeframe, the minor structure already shifted bullish as discussed yesterday. The bearish reactions from the marked supply zones only created new demand clusters, which may now act as protection against deeper sell-offs.
The 1H timeframe is also bullish on the minor structure, with yesterday’s consolidation areas creating valid demand zones that may continue supporting price higher.
On the 15M timeframe, both major and minor structures remain strongly bullish. For now, any bearish movement may simply act as a lower timeframe pullback before bullish continuation.
My overall view:
Even with the current bullish momentum, I still consider buying at these premium prices relatively risky.
That said, I personally accepted that risk and entered longs from yesterday’s demand zones.
As for bearish setups, I’m not interested unless we get valid major bearish structure shifts on the 15M timeframe.
If you are a low-risk trader, staying patient and simply observing the market may be the best decision for now.
Follow the updates for possible structure changes.
Trade attivo
A valid 5-minute breakout above 4739.547 could trigger the next bullish cycle.Trade chiuso: obiettivo raggiunto
The first target at 4760.94 was hit, and the price beautifully reacted with a bearish move precisely at the specified supply zone. Currently, with the break of the major 15-minute low at 4692.50, the 15-minute timeframe structure has exited its bullish phase, although a valid close below this level has not yet occurred. This could signal the beginning of a correction for higher timeframes. Of course, the 15-minute structure needs to become completely bearish, which we will follow up on together.Nota
Please note: With the current market drop, the minor structure of the one-hour timeframe has also exited its previous bullish phases. Furthermore, the demands mentioned in this morning's analysis as four-hour blocks are not very strong due to the lack of appropriate momentum exit. Thus, this can give us good indications of bearish behavior, and we can expect the upward wave that started from 4500 to have ended. We may be entering the next phase of movement, which is bearish behavior for the correction of this upward wave. However, remember the warning: valid bearish structures have not yet formed, so avoid impulsive trades.
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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.