This week, I'm anticipating a bearish drop. I have a clean 12-hour supply zone that has caused a break of structure to the downside. At the start of the week, I expect the price to move towards this zone. If not, we might see a small reaction from the 2-hour zone, leading the price up to the 12-hour supply.
Once the price reaches the 12-hour zone, I'll look for a Wyckoff distribution to form on the lower time frame, then sell the price back down to target the liquidity below, which I have identified as trendline liquidity.
Confluences for GOLD Sellls are as follows:
- Price has been breaking down and confirmed with a BOS on the higher time frame.
- Lots of liquidity below in the form of asia lows and trendline liquidity.
- price is near a good supply zone that has caused a break of structure.
- ATH's was taken and enough liq for price to move back down.
- This trade idea is along the with the current bearish trend.
P.S. If the price breaks this 12-hour supply zone, I will wait for the mitigation of the 2-day supply zone.
Once the price reaches the 12-hour zone, I'll look for a Wyckoff distribution to form on the lower time frame, then sell the price back down to target the liquidity below, which I have identified as trendline liquidity.
Confluences for GOLD Sellls are as follows:
- Price has been breaking down and confirmed with a BOS on the higher time frame.
- Lots of liquidity below in the form of asia lows and trendline liquidity.
- price is near a good supply zone that has caused a break of structure.
- ATH's was taken and enough liq for price to move back down.
- This trade idea is along the with the current bearish trend.
P.S. If the price breaks this 12-hour supply zone, I will wait for the mitigation of the 2-day supply zone.
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.
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.