Gold Spot / U.S. DollarUpdated Previous Day High/Low Reversal Strategy
Daily Range Identification: You establish the previous day's high and low as key levels.
Liquidity Sweep: You observe price action for a "liquidity run," where price breaks either the previous day's high or low, indicating potential stop-loss hunting.
Change of Character (ChoCh): Following the liquidity run, you look for a "change of character," signifying a shift in momentum and a potential reversal.
Fair Value Gap (FVG) Entry: You identify fair value gaps (price imbalances) to find precise entry points in the direction of the indicated reversal.
Target: Your profit target is the opposite extreme of the previous day's range (either the previous day's high or low).
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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.