Between Rock and Hard place - Gold (based on Options flow)An interesting situation on gold as the price is between the relatively closely spaced two Virgin VPOC points. After reaching the local low on Friday, gold is systematically making up for losses by climbing up. The closest opportunity to join the intraday traffic north will be a Gamma breakthrough of 0.25 or the observation of demand around this Gamma (as clearly shown by the VSA Scanner in real time). The 1804 level will have a magnetic effect on the price and this move is based on the retest strategy of this level. Then a bearish reaction is expected, which is additionally boosted by the Gamma 0.5 level (determined on the basis of the optional flow from Gamma Levels). And according to Gamma's strategy, the price reaction to this Gamma most often brings you back to the Pivot point.
The zone below the current price (at the time of writing the analysis we operate around 1795) is one large volume zone (designated by the VSA Scanner - blue rectangles). Nevertheless, Shorty can be played after Raising Gamma -0.25. Securing the position at Gamma -0.5 and further observation of the market reaction to this level, which, as we know, is a very strong support for Intraday. If we break the level of 1786 (an opportunity for latecomers to join the relegation movement), then the Virgin VPOC at 1779.4 should work magnetically, after which we expect the reaction of the Bulls.
