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Supply Zone

Golden Buying OpportunityTrading Gold and Oil. As you know, I typically trade these products on a longer-term perspective due to their volatility compared to the FX market. Recently, I have noticed a Bullish Shark Pattern confirmation on gold, which presents two potential approaches. Option 1 would be to engage the trade immediately if there is a retest at $1,819.37. This is because the Shark Pattern has completed, and a retest could be an excellent opportunity to enter the market. Option 2 would be to wait for a retest on the support level of the 1hourly chart at $1,814.97, as long as the market doesn't close below $1,810.12. Alternatively, if you are interested in shorting opportunities, the sell zone on the 4-hourly chart could be an opportunity for you. Which option do you think would be the best approach?
FX_IDC:XAUUSDLong
by RaynLim
SOLANA LONG TERM (1D)Solana is in the news of late due to the worry that FTX will have to sell their holdings in SOL and Solana based altcoins. Solana tokens account for $128m out of the $1.5b in assets on the Solana network held by FTX. The fear is that a dump of these coins would be detrimental to the altcoins price. For me the chart is simple. When we look at the 1D chart there is a clear mini range we're working with. Large wicks at the high and low of the range, at the midpoint there is a small bearish FVG just above. I believe this is where we will trade for the remainder of this year. Now that we're at the 0.25 line and looking to react off it, I could see a retest of the midpoint, and if a SFP after tagging the FVG I would look to target the demand zone for a long term hold. For the next bullrun Solana is definitely a large cap alt that is set up to be one of the top gainers. With an ATH of $260, we are already at a great long term hold entry point. However, the best spot buy is in the demand zone. A sweep and reclaim would be great for the bull run to come. The supply zone may be difficult to fill in the next few months, given the FTX news, general market/macro sentiment and recession fears. I would expect a retest to come in Q1 of 2024. If we don't tag the demand zone and move into the supply zone that would be a good short opportunity in my mind. Overall, this is a complicated matter. The token itself has huge potential to reach its ATH in the coming years, but Solana must weather this storm successfully in order to get the chance to reach its potential. Buying blood and being patient will be rewarding.
by ProR35