Gold, what is next, up or down, does anyone know?)
Updated
After my last post on GOLD tradingview.com/chart/GOLD/yggwRDM0-Why-d-you-go-backwards-GOLD-punk/, the price nearly hit my target at the all-time high (ATH), but now we're in a tricky situation:
1. We’ve got equal lows (EQL) and equal highs (EQH) forming on GOLD.
2. The price grabbed liquidity from the previous week's high (PWH), then nuked and closed below both the daily open and weekly open (WO) levels.
3. On the lower timeframes (5-15m), we've got market structure shifts (MS) and break of structure (BOS).
Given all these factors, I see three possible scenarios—two bearish and one bullish—all depending on how Monday and Tuesday’s price action (PA) plays out:
1. **Most likely**: A pump to the 15m order block (OB) in the golden pocket before moving downward toward the EQL.
2. **Bearish scenario**: The price drops from the market open straight down to EQL without testing any higher zones.
3. **Bullish scenario**: The price surges higher, closes above the 15m OB, and continues pushing toward the ATH.
Once either EQL or EQH is hit, we’ll need to watch for a reaction. Follow me if you don’t want to miss more insights like this!
1. We’ve got equal lows (EQL) and equal highs (EQH) forming on GOLD.
2. The price grabbed liquidity from the previous week's high (PWH), then nuked and closed below both the daily open and weekly open (WO) levels.
3. On the lower timeframes (5-15m), we've got market structure shifts (MS) and break of structure (BOS).
Given all these factors, I see three possible scenarios—two bearish and one bullish—all depending on how Monday and Tuesday’s price action (PA) plays out:
1. **Most likely**: A pump to the 15m order block (OB) in the golden pocket before moving downward toward the EQL.
2. **Bearish scenario**: The price drops from the market open straight down to EQL without testing any higher zones.
3. **Bullish scenario**: The price surges higher, closes above the 15m OB, and continues pushing toward the ATH.
Once either EQL or EQH is hit, we’ll need to watch for a reaction. Follow me if you don’t want to miss more insights like this!
Trade active
Expecting price to go till ATH and then reversal
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