📊 Current Setup:
We have been tracking this area since the beginning of the week.
Gold is finally pulling back after a strong run, now testing a key demand zone before a potential bounce.
📍 Key Levels to Watch:
Last Resistance (LR - Gray Zone): Recent rejection shows strong supply.
LB (Demand Zone - Orange): A liquidity grab here could set up the next move higher.
📈 Potential Scenarios:
1️⃣ Bullish Play: A bounce from the LB zone signals buyers stepping in, aiming for IBCL and beyond.
2️⃣ Deeper Liquidity Test: Price may dip below Previous Day Low before reversing up.
3️⃣ Breakdown Risk: If LB fails, the next leg lower is in play.
🔍 What to Watch:
Strong bullish reactions in the demand zone for long opportunities.
H4 candle close in the LB zone preferably under the previous day low.
Confirmations before entering—wait for structure to validate.
CPI is later today. Hopefully we can get an entry and get back on the train for another attempt toward the ATHs and 3000 on Gold!!
We have been tracking this area since the beginning of the week.
Gold is finally pulling back after a strong run, now testing a key demand zone before a potential bounce.
📍 Key Levels to Watch:
Last Resistance (LR - Gray Zone): Recent rejection shows strong supply.
LB (Demand Zone - Orange): A liquidity grab here could set up the next move higher.
📈 Potential Scenarios:
1️⃣ Bullish Play: A bounce from the LB zone signals buyers stepping in, aiming for IBCL and beyond.
2️⃣ Deeper Liquidity Test: Price may dip below Previous Day Low before reversing up.
3️⃣ Breakdown Risk: If LB fails, the next leg lower is in play.
🔍 What to Watch:
Strong bullish reactions in the demand zone for long opportunities.
H4 candle close in the LB zone preferably under the previous day low.
Confirmations before entering—wait for structure to validate.
CPI is later today. Hopefully we can get an entry and get back on the train for another attempt toward the ATHs and 3000 on Gold!!
Order cancelled
Plan reached the value area, but no trigger, no trade. Waiting on CPI for next move.Staying disciplined means no loss— patience always wins the game. On to the next opportunity!
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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.
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.