My analysis for gold this week aligns with other pairs, where I am expecting bearish moves. Given the recent rise in the dollar, I am looking to join the trend and focus on selling opportunities. I have identified two nearby supply zones on the 6-hour and 12-hour charts as potential entry points.
Once the price reaches these zones, I will look for signs of slowed momentum, distribution, and a change of character (CHOCH). From there, I will target the liquidity pools below, including trendlines and Asian session lows.
Confluences for GOLD sells are as follows:
- Price has been breaking structure to the downside on the higher time frame.
- Price has left clean supply zones on the 6hr and the 12hr.
- Lots of liquidity to the downside that needs taking
- Trade idea is pro trend as price has been forming lower lows and lower highs.
P.S. Currently, the price is at a decent short-term buy position that can be taken up towards the supply zone, provided the confluences are correct. If the price continues to drop, I will look to enter off a new break of structure (BOS).
Once the price reaches these zones, I will look for signs of slowed momentum, distribution, and a change of character (CHOCH). From there, I will target the liquidity pools below, including trendlines and Asian session lows.
Confluences for GOLD sells are as follows:
- Price has been breaking structure to the downside on the higher time frame.
- Price has left clean supply zones on the 6hr and the 12hr.
- Lots of liquidity to the downside that needs taking
- Trade idea is pro trend as price has been forming lower lows and lower highs.
P.S. Currently, the price is at a decent short-term buy position that can be taken up towards the supply zone, provided the confluences are correct. If the price continues to drop, I will look to enter off a new break of structure (BOS).
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.