I anticipate that gold is gearing up for another rally to sweep the liquidity pool formed along the trendline. Price could either break past the 10-hour supply zone, potentially reaching a new all-time high, or we might see a short-term decline from this zone, pushing the price down to the 19-hour demand level.
If the price reaches this demand zone, I expect it to consolidate on the lower time frames, after which gold may expand to the upside. While we're currently seeing a reaction at the present demand zone, I believe it might eventually fail due to the significant liquidity on both sides.
Confluences for GOLD Buys:
- There is significant liquidity to the upside that remains untapped.
- Price shows strong bullish momentum on both higher and lower time frames.
- A clean, unmitigated 19-hour demand zone is present.
- There are equal lows above the demand zone, suggesting a potential liquidity sweep before price expands.
P.S. As the price has already reacted to the current demand zone, I will be holding off for now and either wait for a short-term sell from the supply zone or until the price reaches the 19-hour demand zone.
Have a great trading week, everyone!
If the price reaches this demand zone, I expect it to consolidate on the lower time frames, after which gold may expand to the upside. While we're currently seeing a reaction at the present demand zone, I believe it might eventually fail due to the significant liquidity on both sides.
Confluences for GOLD Buys:
- There is significant liquidity to the upside that remains untapped.
- Price shows strong bullish momentum on both higher and lower time frames.
- A clean, unmitigated 19-hour demand zone is present.
- There are equal lows above the demand zone, suggesting a potential liquidity sweep before price expands.
P.S. As the price has already reacted to the current demand zone, I will be holding off for now and either wait for a short-term sell from the supply zone or until the price reaches the 19-hour demand zone.
Have a great trading week, everyone!
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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.
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.