Hey traders and investors!
📊 GOLD / W + D
📍 Context
On the weekly timeframe: a seller candle with increased volume but no result — the close is above 3201. This gives buyers a chance to take over the initiative.
On the daily timeframe: the buyer has brought the price back into the range (lower boundary at 3201), which also keeps the door open for bullish scenarios.
🎯 Trade Idea
📌 Conclusion
Bulls have a chance — it's important to watch the price behavior around 3265 and look for long setups on lower timeframes. For example, a retest of 3265 after a breakout and absorption of the retest candle by the buyer, similar to what happened at the 3167 level on the hourly timeframe.
📊 GOLD / W + D
📍 Context
On the weekly timeframe: a seller candle with increased volume but no result — the close is above 3201. This gives buyers a chance to take over the initiative.
On the daily timeframe: the buyer has brought the price back into the range (lower boundary at 3201), which also keeps the door open for bullish scenarios.
🎯 Trade Idea
- Consider long positions after the price holds above 3265
- Potential targets: 3435 and 3500
📌 Conclusion
Bulls have a chance — it's important to watch the price behavior around 3265 and look for long setups on lower timeframes. For example, a retest of 3265 after a breakout and absorption of the retest candle by the buyer, similar to what happened at the 3167 level on the hourly timeframe.
Note
This analysis is based on the Initiative Analysis concept (IA).Wishing you profitable trades!
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
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.
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
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.