The previous day's candle closed bullish, so my bias is bullish. The narrative is that after the New York AM low and London sweep from the previous day, the market should target the previous day's high, which is around 2750. The draw on liquidity is at 2750. What do you think about this?
As you can see in front of you, the SMC structure is drawn. After the market took inducement, the price made a raid on the H4 POI, consolidated there for a long time, built liquidity, and finally swept this support. This image suggests that gold, after taking IRL, will now make a raid on ERL. Since the U.S. election is today, the market might also make a panic...
My current bias on gold is bearish. The weekly candle swept upwards and then closed inside, so our draw on liquidity will be the low of the previous candle. The narrative is that price will go into the premium area, tap into the one-hour zone, and from there we’ll look for short positions, with our targets set on the chart
In my opinion, this support will push gold up because it's showing buying signs here. Please do your own research and manage risk. May pips be with you!
At this level, buyers are losing momentum, and you can confidently short gold down to the support area. From there, we’ll look for buying opportunities
In my opinion, this support will push gold up because it's showing buying signs here. Please do your own research and manage risk. May pips be with you!
Gold is currently in a bullish trend, so selling it could be dangerous. The market has targeted buy-side liquidity and there's been a run on liquidity. Now, the market will likely move towards drawing on liquidity at the levels you see. The market will retrace, and then we'll consider buying