Gold Futures (MGC) continues to consolidate with ADX below 25 across all timeframes up to the Daily, signaling that the market is not ready to trend just yet.
Yesterday’s session was mostly sideways, building liquidity on both sides of the range. With the H4 and Daily FVG overlap still in play, I’m watching for a potential sweep of yesterday’s low into the Daily FVG zone before any sustained attempt higher.
However, low ADX conditions mean price is more likely to rotate between liquidity pools than run in a clean, one-sided trend. That opens up the possibility of:
Scenario A: Direct sweep of yesterday’s low → fill the Daily FVG → bounce toward midrange.
Scenario B: Fake bullish breakout into untested supply (3,410–3,420) before the low sweep.
Scenario C: Overshoot of the low into the 3,350 HVN before any meaningful reaction.
Plan:
Stay patient, focus on killzone impulsive displacement after liquidity is taken, and keep profit targets tighter — aiming for midrange or HVN instead of chasing extended moves.
Yesterday’s session was mostly sideways, building liquidity on both sides of the range. With the H4 and Daily FVG overlap still in play, I’m watching for a potential sweep of yesterday’s low into the Daily FVG zone before any sustained attempt higher.
However, low ADX conditions mean price is more likely to rotate between liquidity pools than run in a clean, one-sided trend. That opens up the possibility of:
Scenario A: Direct sweep of yesterday’s low → fill the Daily FVG → bounce toward midrange.
Scenario B: Fake bullish breakout into untested supply (3,410–3,420) before the low sweep.
Scenario C: Overshoot of the low into the 3,350 HVN before any meaningful reaction.
Plan:
Stay patient, focus on killzone impulsive displacement after liquidity is taken, and keep profit targets tighter — aiming for midrange or HVN instead of chasing extended moves.
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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.