GOLD, between the high volume levels

Updated
Today I want to share a different point of view on the gold market, that matches with my last analysis, so even more interesting in my opinion.

Idea
Gold is currently trading in a high volume range between 1976 and 2010. The levels are extracted from a self made indicator, but you can recheck how important these levels are by browsing through the chart by yourself.

Anyway this strategy is quiet simple. A move out of the range with a daily close should push the price towards the next highlighted high volume area.

TP Levels
Bullish: 2050
Bearish: 1904

I'll explain the SL settings when it comes to trading.

Why are high volume areas important?
Market markers are placing orders at strategic points to get a maximum of safeness and of course profit out of the market. If a candle closes with a volume peak, compared to other candles, a huge amount of money was invested to start a movement from a specific level. If the levels are revisited the possibility of market makers appearing again is high and the main trends starting from these levels.
Note
Did you mention how accurate the price respected the border from the red zone at 1996?
Note
Gold found support in the yellow buy again. Not it's important if it breaks back to the red box. There is always a possibility to buy in the support zone (yellow), so I opened a long position at 1993 today. If you want to follow my more detailled updates, check out the other thread:
GOLD, it's getting serious now
Note
My long position got stopped out break even and it looks like gold will dive deeper into the yellow volume support area.
Trade active
Strong bullish breakout from the red zone. Starting to buy in three positions to lower the risk of a false breakout.

BUY 2017, 2010, 2004
SL 1995
TP 2030, 2050
Trade closed: target reached
TP 2030 reached.
Trade closed manually
This escalated quickly.
Good point for TP again, I think 2050 will be reached within the next days, but a correction is possible before.

Full profit: 260 Pips
Trade closed: target reached
2050 reached. This happend so fast, I still can't believe it.

Idea closed.
Note
Did you recognized how properly these levels are respected?
If you want to see more of this analysis, i would be glad to welcome you as a follower :)
GoldTechnical IndicatorsrangerangebreakoutTrend AnalysisXAUUSD

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