Gold appears to be generating significant liquidity, suggesting a potential setup for another rally to the upside. We’re seeing liquidity engineering, which points toward the possibility of gold making a push to retest all-time highs.
I’m watching for a chance to capitalize on this move. There’s a 1-hour demand zone just below a pool of liquidity that has recently triggered a change of character (CHOCH) to the upside. I’ll be looking for price to mitigate that demand zone before taking liquidity higher.
Confluences for Gold Buys:
- Gold is consolidating, likely preparing for a breakout.
- Trendline liquidity to the upside still needs to be taken.
- The 1-hour demand zone has caused a CHOCH to the upside.
- Gold remains bullish, aligning with the overall trend.
- The US Dollar Index (DXY) is showing signs of bearishness from its supply zone, supporting the bullish outlook for gold.
Note: If price continues to drop and fails to hold at the 1-hour demand zone, I’ll anticipate it to fill the imbalance below and mitigate the 10-hour demand zone. This area is another point of interest where a potential bullish rally for gold could form.
I’m watching for a chance to capitalize on this move. There’s a 1-hour demand zone just below a pool of liquidity that has recently triggered a change of character (CHOCH) to the upside. I’ll be looking for price to mitigate that demand zone before taking liquidity higher.
Confluences for Gold Buys:
- Gold is consolidating, likely preparing for a breakout.
- Trendline liquidity to the upside still needs to be taken.
- The 1-hour demand zone has caused a CHOCH to the upside.
- Gold remains bullish, aligning with the overall trend.
- The US Dollar Index (DXY) is showing signs of bearishness from its supply zone, supporting the bullish outlook for gold.
Note: If price continues to drop and fails to hold at the 1-hour demand zone, I’ll anticipate it to fill the imbalance below and mitigate the 10-hour demand zone. This area is another point of interest where a potential bullish rally for gold could form.
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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.