I will wait for the liquidity and orders that were manipulated, I see this from the candlestick pattern, and wait for confirmation on lower time frames before I enter a long position. Gold is very volatile and should be traded with extremely tight stop-loss and a proper risk management plan.
I am waiting for this retail traders trend line to be outtaken and then when GOLD grabs the liquidity I go long, I check entries in the 5 min timeframe and even 1 min, wait for the structure to be broken. Have a REALLY tight stop-loss doe GOLD is behaving very volatile right now. I am not a financial advisor and don't have any education at all. letsgo!
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
I have used the volume profile and can see a lot of orders from the banks being filled at the OB-lvl. I wait for price to hit the OB to find a good bullish setup and aims for a longer trade and look for last high as profit target. There is some liquidity to be grabbed before aiming higher and some bullish banks that will protect their Stoploss. Good luck traders!
This wick is a very likely sell signal.. I know inflation is still considered to be high but with wide adoption of crypto and NFTs we are starting to see other great hedges for inflation take place. This could potentially deflate the value of gold.