XAUUSD Bearish channel with liquidity zone!

22 באוג׳ 2023

On gold, we have a bearish channel with a price that is slowly starting to rotate around the 1897 area. In fact, as you can see, the price seems to have gained significant liquidity in the 1980-1990 zone. At this point, I expect a breakout of the swing high at the 1904 level, and this would give me confirmation for an uptrend. Subsequently, I would be looking for a long entry around 1893-1897, where we have a demand zone, with a target at 1916, which is another swing high. Let me know how you would approach this pair. Greetings and happy trading to all.