4hr supply zone
Updated
Price has been moving uptrend with high momentum for some days now and we are currently on a 4hr supply zone.
Yesterday, Price showed high volatility with choppiness but it never closed above the supply zone which is a bearish sign.
Looking at the line chart, we can also confirm that Price never went above the supply zone, so I would advise against buying at this point.
This is like the wait time until Price shows its cards. If Price closes above 1950, then upside would continue but if we have Price close below the supply zone, and 1938 fails to hold, we would see Price at 1924
Risk management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Yesterday, Price showed high volatility with choppiness but it never closed above the supply zone which is a bearish sign.
Looking at the line chart, we can also confirm that Price never went above the supply zone, so I would advise against buying at this point.
This is like the wait time until Price shows its cards. If Price closes above 1950, then upside would continue but if we have Price close below the supply zone, and 1938 fails to hold, we would see Price at 1924
Risk management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Note
Price still flirting with the top of the supply zone...Patience is keyNote
Gold is looking good, raking in good profit 💸🤑🤑🤑Trade closed: target reached
Target achieved
Related publications
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.