XAU/USD Longs from 2380 or 2340 back up to ATH.
My bias this week is to look for buying opportunities to reach the all-time high liquidity. The price has been very bullish, breaking structure to the upside, which aligns with the overall trend. I will focus on near-term demand zones to continue this trend, expecting the price to retrace and mitigate one of these zones.
I will monitor either the 15-hour or 17-hour demand zones for signs of price slowing down and forming a Wyckoff accumulation pattern. If the price continues to rise and creates a new all-time high, I will then look for potential sell opportunities as the price comes back down.
Confluences for GOLD Buys are as follows:
- Price broke structure the upside on the higher time frame leaving new zones.
- These higher highs and higher lows indicate the rise of a new uptrend.
- New demand zones are left on the 15hr and the 17hr where I can look for potential buys.
- Still lots of liquidity to the upside that needs to be taken i.e. ATH's
P.S. Once the price enters these zones, I will focus on buying opportunities, as I prefer to trade with the trend. I will only consider short positions if the price significantly breaks down.
With little news this week, happy trading, and I hope you all have a great week!
I will monitor either the 15-hour or 17-hour demand zones for signs of price slowing down and forming a Wyckoff accumulation pattern. If the price continues to rise and creates a new all-time high, I will then look for potential sell opportunities as the price comes back down.
Confluences for GOLD Buys are as follows:
- Price broke structure the upside on the higher time frame leaving new zones.
- These higher highs and higher lows indicate the rise of a new uptrend.
- New demand zones are left on the 15hr and the 17hr where I can look for potential buys.
- Still lots of liquidity to the upside that needs to be taken i.e. ATH's
P.S. Once the price enters these zones, I will focus on buying opportunities, as I prefer to trade with the trend. I will only consider short positions if the price significantly breaks down.
With little news this week, happy trading, and I hope you all have a great week!
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