Gold is showing bullish signs, but I am waiting for stronger confirmation before entering. Here’s my breakdown: The Technical Analysis was done on different Timeframes (15m,30,1H,2H,4H,1D)
🔹 Technical Analysis:
• Price rejected strong support with two long-wick candles.
• Bollinger Bands show oversold conditions.
• Williams %R confirms price is in the oversold zone.
• Price is at VAL on the PVP indicator, signaling a potential long setup.
• Price grabbed Liquidity
🔹 Fundamental & Sentiment Analysis:
• Seasonality: March has a 50-60% historical bullish bias.
• COT Data: USD is weak → bullish for gold.
• Crypto Correlation: BTC, ETH, and SOL are falling, indicating risk-off sentiment,
which favors gold.
🔹 Why I’m Waiting:
• OBV is still falling → No buyers stepping in yet.
• MACD is still bearish → No momentum shift yet.
• Spread hours → Low volume, fakeouts possible.
• Low Volatility Sessions (Sydney,Tokio)
📈 Plan:
• Waiting for confirmation: OBV increase, MACD crossover, or a reclaim of VWAP/key
level.
• Entry: During London/New York session if confirmation appears.
• Risk Management:
• Risking 1.85% of my account ($10k) with 0.25 lot size.
• Stop Loss: Below liquidity grab (to be adjusted).
• Take Profit: Minimum 1:2 R:R (adjusting based on price action).
⚠ I will update this trade when confirmation appears! Let’s see how it plays out.
(65-70% Probability of Winning this Trade)
🔹 Technical Analysis:
• Price rejected strong support with two long-wick candles.
• Bollinger Bands show oversold conditions.
• Williams %R confirms price is in the oversold zone.
• Price is at VAL on the PVP indicator, signaling a potential long setup.
• Price grabbed Liquidity
🔹 Fundamental & Sentiment Analysis:
• Seasonality: March has a 50-60% historical bullish bias.
• COT Data: USD is weak → bullish for gold.
• Crypto Correlation: BTC, ETH, and SOL are falling, indicating risk-off sentiment,
which favors gold.
🔹 Why I’m Waiting:
• OBV is still falling → No buyers stepping in yet.
• MACD is still bearish → No momentum shift yet.
• Spread hours → Low volume, fakeouts possible.
• Low Volatility Sessions (Sydney,Tokio)
📈 Plan:
• Waiting for confirmation: OBV increase, MACD crossover, or a reclaim of VWAP/key
level.
• Entry: During London/New York session if confirmation appears.
• Risk Management:
• Risking 1.85% of my account ($10k) with 0.25 lot size.
• Stop Loss: Below liquidity grab (to be adjusted).
• Take Profit: Minimum 1:2 R:R (adjusting based on price action).
⚠ I will update this trade when confirmation appears! Let’s see how it plays out.
(65-70% Probability of Winning this Trade)
Trade closed: target reached
Unfortunately, my buy limit at 2877 was missed as price reversed too quickly from 2880 before taking off in the expected direction. I was asleep at the time, otherwise, I would have entered manually.Even though I missed this wonderful trade, my bias was still correct, and price moved as anticipated. This is just a reminder that patience and planning matter, but sometimes the market moves faster than we do.
All the glory goes to Jesus Christ—the ultimate source of wisdom and guidance!
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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.