This week, my focus for GOLD is on potential long opportunities around the current price level. Price is sitting within a strong area of demand, so my plan is to wait for signs of accumulation and a clear slowdown in bearish momentum before considering any entries.
Ideally, I’d like to see the Asia low swept, which currently lies in the middle of the zone — that would offer even stronger confirmation for a buy setup.
If this current zone doesn’t hold, I have a well-defined 9H demand zone around the 3,220 level, which sits in a more discounted area and aligns well with the overall bullish trend on the higher timeframes.
Confluences for GOLD Buys:
- Clean major daily demand that caused a change of character to the upside
- Plenty of liquidity above and an unmitigated supply higher up
- This is a pro-trend trade, aligning with overall higher timeframe bullishness
- DXY has been bearish over the past few weeks, supporting gold upside
P.S. If price respects this current demand and moves higher, we may see a short-term reaction from the 3H supply zones above — but we’ll monitor price action and adjust accordingly.
Have a great trading week
Ideally, I’d like to see the Asia low swept, which currently lies in the middle of the zone — that would offer even stronger confirmation for a buy setup.
If this current zone doesn’t hold, I have a well-defined 9H demand zone around the 3,220 level, which sits in a more discounted area and aligns well with the overall bullish trend on the higher timeframes.
Confluences for GOLD Buys:
- Clean major daily demand that caused a change of character to the upside
- Plenty of liquidity above and an unmitigated supply higher up
- This is a pro-trend trade, aligning with overall higher timeframe bullishness
- DXY has been bearish over the past few weeks, supporting gold upside
P.S. If price respects this current demand and moves higher, we may see a short-term reaction from the 3H supply zones above — but we’ll monitor price action and adjust accordingly.
Have a great trading week
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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.