The chart represents the daily time frame (1D) of Gold Spot/USD (XAUUSD). Here's a breakdown of the key elements and analysis:
Key Observations: 1. Zones Highlighted: - Red Zone (Resistance): The area between $2,770 and $2,790 represents a significant supply/resistance zone where price is likely to face selling pressure. - Green Zone (Potential Target Area): Indicates a long position or bullish sentiment aiming for price to reach the upper red zone.
2. Key Levels: - $2,790.00: Likely a critical high or resistance level. - $2,721.61: A notable support or breakout level currently breached to the upside. - $2,606.10 and $2,582.31: Previously identified support levels. - $2,536.79 (BOS - Break of Structure): Indicates a structural low that was broken earlier, signaling bearish momentum, but this has since reversed.
3. Market Structure: - CHOCH (Change of Character): Indicates a shift from bearish to bullish market structure as buyers gained control after breaking through a key resistance. - LQ Sweep (Liquidity Sweep): A move designed to clear liquidity below a certain level, trapping sellers before reversing to the upside. - Double T LQ (Double Top Liquidity): Suggests a zone where liquidity may have been grabbed from stop-loss orders above the highs.
4. Imbalance Filled: - The chart highlights a previous price inefficiency or "imbalance" that has been filled, indicating price efficiency and potential continuation of the trend.
5. Bullish Order Flow: - The market has transitioned into bullish momentum, with higher highs and higher lows forming after the BOS and CHOCH.
---
Probable Scenarios: 1. Bullish Continuation: - The price is targeting the resistance zone around $2,770–$2,790. - A breakout above this zone could lead to new highs with potential for strong bullish momentum.
2. Rejection Scenario: - If the price fails to break the resistance zone, it may retrace back to retest lower support levels, such as $2,721 or even $2,606.
---
Trading Insights: - Long Bias: Entering after the CHOCH and liquidity sweep suggests the trend is bullish. Holding positions until price reaches the resistance zone is viable, but watch for rejection signals. - Risk Management: Monitor price action around $2,770–$2,790. Set stop-losses below significant support levels like $2,721 to protect against a reversal.
---
Let me know if you'd like further insights or a more detailed strategy based on this chart!
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.