GOLD has recently broken its last low, shifting market structure (CHOCH) and indicating sellers are currently in control. This break opened up 2 clear Supply Zone above — a small base or last bullish candle before the drop — which is a key area where unfulfilled sell orders may be resting.
Price is likely to retrace back into these Supply Zone to fill those orders. Once it reaches this area, we expect selling pressure to resume and push price downward, honoring the imbalance left by the drop.
Entry:
I’m looking to sell from this Supply Zone on a pullback,
This lets me enter at a premium price while trading in direction of the newly established downward momentum.
Target:
The first Target Profit (TP) is set at the next Demand Zone below, where buying pressure might emerge. This Demand Zone is a key area to watch for a reversal or a temporary halt in downward momentum.
Stop Loss:
To control risk, the Stop Loss (SL) is placed just above the Supply Zone.
If price climbs above this area, it would invalidate the Supply’s ability to hold, signalling a potential reversal.
✅ Summary:
• Market has shifted to bearish after breaking last low.
• Supply Zone above is a key area to watch for selling opportunities.
• Sell upon retracement into Supply, with Stop Loss above and Target at Demand below.
Price is likely to retrace back into these Supply Zone to fill those orders. Once it reaches this area, we expect selling pressure to resume and push price downward, honoring the imbalance left by the drop.
Entry:
I’m looking to sell from this Supply Zone on a pullback,
This lets me enter at a premium price while trading in direction of the newly established downward momentum.
Target:
The first Target Profit (TP) is set at the next Demand Zone below, where buying pressure might emerge. This Demand Zone is a key area to watch for a reversal or a temporary halt in downward momentum.
Stop Loss:
To control risk, the Stop Loss (SL) is placed just above the Supply Zone.
If price climbs above this area, it would invalidate the Supply’s ability to hold, signalling a potential reversal.
✅ Summary:
• Market has shifted to bearish after breaking last low.
• Supply Zone above is a key area to watch for selling opportunities.
• Sell upon retracement into Supply, with Stop Loss above and Target at Demand below.
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.