Gold Buy Possibility
Updated
- Opening Rush Takes out Sellers and creates new all time High
- Quick Pullback has traders Sceptical of Direction
- Weak Liquidation attempt adds more early buyers to the pool
- Possible area of final liquidation attempt has a great deal of confluencial factors, signifying a potential opportunity to join the uptrend
NB!
Theory 1
A break at the most recent consolidation high (above FVG) might cause another liquidation none the less, and has a stronger potential to signify continuation of the uptrend, it would also add buyers, which would possibly be liquidated and turned to sellers, adding more sellers for when the market actually rests and continues with the uptrend,
Theory 2
The final Liquidation does come to fruition due to structure attempt not failing, missing an opportunity to buy with the lowest risk
Theory 3
if Everything goes as expected, however the final liquidation area is taken out, no trade, Possible change in market direction.
Strategy Management
if All goes as planned,
- Entry somewhere at golden Zone, with candlestick confirmation
- Risk would be around 800 - 1000 points on 2 decimal brokers 8.00 - 10.00
- Take profit around 3 - 10 times that total (Exits based on algorithmic confluences)
#Let Winners ride and cut losers short
#Buy Low, Sell High
#SMC
Note
- Price failed to reach Structure above- Price bounced from FVG instead of structure
- Price at Golden Zone, Awaiting confirmation for an entry
Overall:
Price is following exactly as predicted and is in the zone where its most likely to push from, awaiting confirmation for entry, in this there is a very strong chance, price continues downwards as on the daily its showing significant downwards pressure, i will Await my confirmation and enter, even if the odds are stacked.
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.