This week, my GOLD analysis focuses on the continuation of the bullish trend. Last week, GOLD showed significant bullish momentum, and we can expect the price to retrace into an unmitigated demand zone before resuming its upward direction.
I’ll be watching for the price to tap into either the 7-hour or 4-hour demand zone below. Once it does, I’ll closely monitor lower time frames for confirmation. If the setup aligns, I’ll look to take buy trades with the trend, aiming to clear liquidity resting above.
Confluences for GOLD Buys:
- Recent and overall bullish momentum.
- Unmitigated demand zones near the current price.
- A confirmed break of structure to the upside.
- Significant liquidity above, including Asia highs and imbalances.
Note: As the price approaches a key supply zone, we might see some bearish pressure. This could present an opportunity for a potential counter-trend trade.
I’ll be watching for the price to tap into either the 7-hour or 4-hour demand zone below. Once it does, I’ll closely monitor lower time frames for confirmation. If the setup aligns, I’ll look to take buy trades with the trend, aiming to clear liquidity resting above.
Confluences for GOLD Buys:
- Recent and overall bullish momentum.
- Unmitigated demand zones near the current price.
- A confirmed break of structure to the upside.
- Significant liquidity above, including Asia highs and imbalances.
Note: As the price approaches a key supply zone, we might see some bearish pressure. This could present an opportunity for a potential counter-trend trade.
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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.
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.