XAU/USD imminent buys or rally from 2,460.000
I anticipate that gold is gearing up for another rally to sweep the liquidity pool formed along the trendline. Price could either break past the 10-hour supply zone, potentially reaching a new all-time high, or we might see a short-term decline from this zone, pushing the price down to the 19-hour demand level.
If the price reaches this demand zone, I expect it to consolidate on the lower time frames, after which gold may expand to the upside. While we're currently seeing a reaction at the present demand zone, I believe it might eventually fail due to the significant liquidity on both sides.
Confluences for GOLD Buys:
- There is significant liquidity to the upside that remains untapped.
- Price shows strong bullish momentum on both higher and lower time frames.
- A clean, unmitigated 19-hour demand zone is present.
- There are equal lows above the demand zone, suggesting a potential liquidity sweep before price expands.
P.S. As the price has already reacted to the current demand zone, I will be holding off for now and either wait for a short-term sell from the supply zone or until the price reaches the 19-hour demand zone.
Have a great trading week, everyone!
If the price reaches this demand zone, I expect it to consolidate on the lower time frames, after which gold may expand to the upside. While we're currently seeing a reaction at the present demand zone, I believe it might eventually fail due to the significant liquidity on both sides.
Confluences for GOLD Buys:
- There is significant liquidity to the upside that remains untapped.
- Price shows strong bullish momentum on both higher and lower time frames.
- A clean, unmitigated 19-hour demand zone is present.
- There are equal lows above the demand zone, suggesting a potential liquidity sweep before price expands.
P.S. As the price has already reacted to the current demand zone, I will be holding off for now and either wait for a short-term sell from the supply zone or until the price reaches the 19-hour demand zone.
Have a great trading week, everyone!
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