My bias on gold remains bullish. Price has been reacting strongly to demand zones and imbalances, producing solid bullish candles. However, since price left a clean demand zone, I expect a small pullback into that zone for reaccumulation.
Once price gives a change of character to the upside in the 20-hour demand zone, I’ll look to buy back up to target the Asia high below the 45-minute supply zone.
Confluences for GOLD Buys:
- Price changed character to the upside, leaving a clean 20-hour demand zone.
- Liquidity above in the form of an Asia high.
- -Market structure is bullish on both higher and lower time frames.
Economic news and ongoing conflicts support GOLD longs.
P.S. After sweeping the Asia high below the supply, I expect a short-term sell opportunity around the 45-minute supply at 2,470.000. However, I’ll wait to see how price reacts.
Once price gives a change of character to the upside in the 20-hour demand zone, I’ll look to buy back up to target the Asia high below the 45-minute supply zone.
Confluences for GOLD Buys:
- Price changed character to the upside, leaving a clean 20-hour demand zone.
- Liquidity above in the form of an Asia high.
- -Market structure is bullish on both higher and lower time frames.
Economic news and ongoing conflicts support GOLD longs.
P.S. After sweeping the Asia high below the supply, I expect a short-term sell opportunity around the 45-minute supply at 2,470.000. However, I’ll wait to see how price reacts.
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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.