In today’s analysis, I’m expecting price to continue its bullish momentum, partially influenced by recent political developments surrounding Donald Trump. This aligns well with the broader higher time frame trend, where we’ve been favouring long setups.
To capitalise, the most immediate and valid point of interest I’ve marked out is the 9H demand zone — the origin of the most recent break of structure. If price retraces, this is where I’ll be watching for bullish confirmation.
However, if price continues to climb without retracing first, we could see a temporary bearish reaction from the nearby 4H supply zone around the 3,400 level. If this happens, I may look for a short-term countertrend sell setup, but only with strong confirmation. Risk will be kept low and I won’t be overly ambitious with targets.
Confluences for GOLD Buys:
Strong bullish momentum following a clear CHoCH on the higher time frame
Recent break of structure left behind a clean 9H demand zone for potential retracement
Trend remains bullish on both the lower and higher time frames
Liquidity resting above still yet to be swept
DXY is currently bearish, supporting a bullish case for gold
P.S. While we could see a minor sell opportunity down to the demand zone, patience is key.
Waiting for a solid pre-trend setup is part of the process — no need to rush entries.
Have a great trading week and stay sharp!
To capitalise, the most immediate and valid point of interest I’ve marked out is the 9H demand zone — the origin of the most recent break of structure. If price retraces, this is where I’ll be watching for bullish confirmation.
However, if price continues to climb without retracing first, we could see a temporary bearish reaction from the nearby 4H supply zone around the 3,400 level. If this happens, I may look for a short-term countertrend sell setup, but only with strong confirmation. Risk will be kept low and I won’t be overly ambitious with targets.
Confluences for GOLD Buys:
Strong bullish momentum following a clear CHoCH on the higher time frame
Recent break of structure left behind a clean 9H demand zone for potential retracement
Trend remains bullish on both the lower and higher time frames
Liquidity resting above still yet to be swept
DXY is currently bearish, supporting a bullish case for gold
P.S. While we could see a minor sell opportunity down to the demand zone, patience is key.
Waiting for a solid pre-trend setup is part of the process — no need to rush entries.
Have a great trading week and stay sharp!
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.