A new Buy Side Liquidity Sweep to get a new GOLD Lower Low

8 בנוב׳ 2023

XAUUSD
After our previous $24 diving experience we get a new potential Short side opportunity on Gold. Gold is in a Consolidation Channel and we got a limited Buy side liquidity sweep.
As Gold is in a strong Bearish Institutional Order Flow it makes sense that Fakeout to be relatively small above the consolidation range.
An upside breakout of that range will negate this Short price level.

8 בנוב׳ 2023

הערה

Already $10 in the bucket 🪣. Final target can be as low as 1935. Let's go ☺️

8 בנוב׳ 2023

עסקה פעילה

Gold now getting into a new historical range. Sideways are to be expected

8 בנוב׳ 2023

הערה

The current Gold USD Price Action gives me a way too introduce the Inducement zone.
What's does that mean?
Sadly I am seeing retail traders accumulating Long orders in the current range.
Why?
Because that area looks like a Resistance, a Demand Zone.
Unfortunately it might be the way for larger traders to get more liquidity in the Buy side that will eventually boost the next downside move as stop losses will actually be an additional Selling volume.
As a result a very careful approach on that Point Of Interest is the best advice.

9 בנוב׳ 2023

עסקה סגורה: היעד הושג

1949.5 was our first Take profit as per main chart