After a long sideways trend, Gold breaks the consolidating area and is currently moving around a key liquidity areas (2,878 - 2,869), a zone where buyers might step in If price shows bullish momentum from this level, we could see a move back toward the M30 Fair Value Gap (FVG), which may act as a rejection point.
Trade Scenario:
🔹 Bearish Momentum:
If price retraces into the M30 FVG and faces rejection, a continuation of the downtrend could occur till the next liquidity areas 2878 - 2869.
We can plan our sell side entry from FVG rejection, setting our SL just above the FVG zone and our TP below the liquidity areas
Trade Scenario:
🔹 Bearish Momentum:
If price retraces into the M30 FVG and faces rejection, a continuation of the downtrend could occur till the next liquidity areas 2878 - 2869.
We can plan our sell side entry from FVG rejection, setting our SL just above the FVG zone and our TP below the liquidity areas
Trade active
Price is approaching near entry at the M30 FVG. zone. Wait for rejection confirmation before entering sell. Trade closed: target reached
We can see market has a high buying volume so it didn't respect FVG and as far as the entry concern its not optimal to enter with this high volume so we waited for the 2908 zone than afterward market give us 130 pips
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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.
🗣Daily forex updates 🇺🇲🌎🗣Fundamentals and Technical experts🗣GBP specialists & Gold🗣weekly 1500-2000pips🗣chart patterns 👍 t.me/ApexBullGold
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.