First off, congratulations to those who entered a Buy order following yesterday's plan that I posted earlier.
Gold is currently forming a small sideways range around the 2980-2990 area, and I believe there will be another upward push to grab liquidity from those entering SELL orders around this zone. This will create market panic, reaching a peak where no one dares to participate anymore. At that point, Gold will experience a strong correction.
Therefore, today's Asian and European sessions will likely see a sideways range between 2980-2990, and the beginning of the US session will see an upward push to grab liquidity above the 3000 USD/oz level. The US session will then conclude with a price drop. If Gold's scenario plays out as expected, we can anticipate a profit-taking day from investors next Monday
Thank you for your review, and I hope you'll stay longer by pressing Follow.
Gold is currently forming a small sideways range around the 2980-2990 area, and I believe there will be another upward push to grab liquidity from those entering SELL orders around this zone. This will create market panic, reaching a peak where no one dares to participate anymore. At that point, Gold will experience a strong correction.
Therefore, today's Asian and European sessions will likely see a sideways range between 2980-2990, and the beginning of the US session will see an upward push to grab liquidity above the 3000 USD/oz level. The US session will then conclude with a price drop. If Gold's scenario plays out as expected, we can anticipate a profit-taking day from investors next Monday
Thank you for your review, and I hope you'll stay longer by pressing Follow.
Trade active
As we expected, the gold price has experienced another upward swing to capture the liquidity of sellers below the 3000 price area, and is currently in our sell waiting zone of 3015-3020.
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Related publications
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.