XAUUSD 23/6/24

23 Jun

Gold this week has a similar outlook to last week. We have an extreme POI (Point of Interest) within the market, a higher time frame order block, and a fair amount of liquidity below the structural lows established last week during our pullback.

If you are up to date with last week's markup that we posted on TradingView, you would see that it has played out almost perfectly as expected. Following this, if we pull higher into the area of supply before dropping, we would expect a longer-term sell move. Conversely, if we sell off sooner, we will expect a bullish move later in the week.

If this fails, we expect the 4-hour low to be closed out completely and the price to move bearish. The main points to focus on this week are selling away from the area of supply and capturing the liquidity that sits below the lows.

Trade safe stick to your rules!