XAU/USD: Potential Reaction at Supply Zone
*On the 4H timeframe, XAU/USD has shown a clear CHoCH (Change of Character), with the previous Higher Low (HL) being broken, taking out Buy-Side Liquidity near the highs. Price is now trading within a supply zone, aligning with bearish order flow.
On the 30M timeframe (see chart):
• A CHoCH has been identified within the supply area, signaling a potential shift in direction.
• Price looking to clear the inducement (IDM) before tapping into the zone, strengthening the likelihood of a sell-off.
• I’m anticipating a reaction and continuation to the downside, targeting lower liquidity levels around $2,730.500.
Key Points:
• Bearish Bias from the 4H Supply Zone.
• Liquidity grab + CHoCH on the 30M confirms bearish intent.
• Targeting the lows near $2,730.500 for a high-probability trade setup.
Trade Idea:
Wait for confirmation within the 30M supply zone (e.g., a lower timeframe entry such as a CHoCH or breaker structure). Maintain discipline and proper risk management.
What do you think about this setup? Drop your thoughts below!
Bless Trading!
On the 30M timeframe (see chart):
• A CHoCH has been identified within the supply area, signaling a potential shift in direction.
• Price looking to clear the inducement (IDM) before tapping into the zone, strengthening the likelihood of a sell-off.
• I’m anticipating a reaction and continuation to the downside, targeting lower liquidity levels around $2,730.500.
Key Points:
• Bearish Bias from the 4H Supply Zone.
• Liquidity grab + CHoCH on the 30M confirms bearish intent.
• Targeting the lows near $2,730.500 for a high-probability trade setup.
Trade Idea:
Wait for confirmation within the 30M supply zone (e.g., a lower timeframe entry such as a CHoCH or breaker structure). Maintain discipline and proper risk management.
What do you think about this setup? Drop your thoughts below!
Bless Trading!
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.
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.