XAUUSD. Impressive traded volumes on Gold
Hello traders and investors!
An interesting situation is unfolding with gold, with impressive traded volumes.
Weekly Timeframe (TF)
There is an uptrend. The start of the last impulse is at 2471.915, and the end of the impulse is at 2685.64. All three candles in this impulse show increased volume. The key candle of the impulse is the last one (marked "KC" on the chart with the largest volume in the impulse).
The seller's correction candle (from September 30) and the buyer's resumption candle (from October 7) have even larger increasing volumes. However, neither the correction candle nor the buyer's resumption candle showed results relative to the key impulse candle—they both closed within the body of the key candle. Moreover, the volume of the buyer's resumption candle was 75% higher than the volume of the key candle and 50% higher than the correction candle. This weekly volume was the highest for both 2023 and 2024(!). I would like to see some results from such volume.
Daily Timeframe
On the daily TF, there is a sideways movement since September 30 (point 4 was formed). The upper boundary is 2685.64, and the lower boundary is 2624.78. The current buyer's vector is 6-7, with potential targets of 2673.26 (first) and 2685.64 (second).
The seller's vector 5-6 has effectively broken through the lower boundary of the range. The key candle of the seller's vector from October 8 is the last one in the vector (marked "KC" on the chart, with the largest volume in the vector). On Friday, October 11, the buyer absorbed this seller's candle, forming a buyer's zone at the lower boundary of the range (green rectangle on the chart). The traded volume in the candle from October 8 was the largest of all of 2024(!).
Summary
On the weekly TF, we have massive volume, which has not yet led to a new high.
On the daily TF, the seller's impressive volume was absorbed by the buyer, and the current buyer's vector is active.
I suspect the weekly buyer simply hasn't had time to show results yet—there wasn't enough time.
The priority is to look for buying opportunities. The first potential target is 2673.26, with the second at 2685.64.
Good luck with your trading and investments!
An interesting situation is unfolding with gold, with impressive traded volumes.
Weekly Timeframe (TF)
There is an uptrend. The start of the last impulse is at 2471.915, and the end of the impulse is at 2685.64. All three candles in this impulse show increased volume. The key candle of the impulse is the last one (marked "KC" on the chart with the largest volume in the impulse).
The seller's correction candle (from September 30) and the buyer's resumption candle (from October 7) have even larger increasing volumes. However, neither the correction candle nor the buyer's resumption candle showed results relative to the key impulse candle—they both closed within the body of the key candle. Moreover, the volume of the buyer's resumption candle was 75% higher than the volume of the key candle and 50% higher than the correction candle. This weekly volume was the highest for both 2023 and 2024(!). I would like to see some results from such volume.
Daily Timeframe
On the daily TF, there is a sideways movement since September 30 (point 4 was formed). The upper boundary is 2685.64, and the lower boundary is 2624.78. The current buyer's vector is 6-7, with potential targets of 2673.26 (first) and 2685.64 (second).
The seller's vector 5-6 has effectively broken through the lower boundary of the range. The key candle of the seller's vector from October 8 is the last one in the vector (marked "KC" on the chart, with the largest volume in the vector). On Friday, October 11, the buyer absorbed this seller's candle, forming a buyer's zone at the lower boundary of the range (green rectangle on the chart). The traded volume in the candle from October 8 was the largest of all of 2024(!).
Summary
On the weekly TF, we have massive volume, which has not yet led to a new high.
On the daily TF, the seller's impressive volume was absorbed by the buyer, and the current buyer's vector is active.
I suspect the weekly buyer simply hasn't had time to show results yet—there wasn't enough time.
The priority is to look for buying opportunities. The first potential target is 2673.26, with the second at 2685.64.
Good luck with your trading and investments!
Good luck with your trading!
t.me/user_friendly_trading
t.me/user_friendly_trading
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