Gold Positioning – Preparing for a Potential Swing Long After Liquidity Sweep
Gold is currently positioned at an attractive area for a potential long-term buy setup, following a clear liquidity sweep outside the external range, where Monday’s candle took out the previous Daily Swing Low.
While immediate buying may still be premature, current price action suggests a continued short-term decline could play out today, targeting the Old Low of Monday’s candle. This area may serve as the foundation for a weekly bottom formation.
🔹 Strategic Outlook:
Based on this scenario, I may allocate a small portion of capital for an early long position, with the intention to hold through the upcoming bullish swing.
This position could potentially be held for a minimum of 500 pips if the market confirms a reversal.
Key Buy Zone to monitor: 3289 – 3297
Patience and precision will be key. Let the market show its hand before scaling in.
Gold is currently positioned at an attractive area for a potential long-term buy setup, following a clear liquidity sweep outside the external range, where Monday’s candle took out the previous Daily Swing Low.
While immediate buying may still be premature, current price action suggests a continued short-term decline could play out today, targeting the Old Low of Monday’s candle. This area may serve as the foundation for a weekly bottom formation.
🔹 Strategic Outlook:
Based on this scenario, I may allocate a small portion of capital for an early long position, with the intention to hold through the upcoming bullish swing.
This position could potentially be held for a minimum of 500 pips if the market confirms a reversal.
Key Buy Zone to monitor: 3289 – 3297
Patience and precision will be key. Let the market show its hand before scaling in.
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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.