30-minute candlestick chart on Gold (XAU/USD)Market Structure Labels:
CHoCH: Change of Character – indicates a shift in trend direction.
BOS: Break of Structure – confirms a continuation in trend direction.
Price Zones:
Supply Zone (Red Rectangle): Price area near the 3,114 level, where selling pressure may exist.
Demand Zones (Blue Rectangles): Areas around 3,052 and 2,950 levels where buying pressure may step in.
EQH (Equal Highs): Indicates potential liquidity resting above that high, possibly a target for price.
Weak Low: Marked below 2,950, suggesting it's vulnerable and may be swept.
Current Price Action:
Price is currently at 3,082, up 3.35% for the session.
A recent CHoCH to the upside, followed by a BOS, suggests bullish intent.
The price appears to be pulling back into a smaller demand zone (~3,064–3,052 area).
Forecasted Move (Blue Arrow):
The trader anticipates a short-term dip into the highlighted demand zone.
After tapping into demand, price is expected to bounce and move back up toward the supply zone, potentially testing or breaking the EQH around 3,114.
Trade Setup (Marked Zone):
Entry Zone: Around the demand area (~3,064–3,052).
Target Zone: Toward the top red zone (~3,114).
Risk Zone: Below 3,052.
