After 2 months since we predicted this move, since the first attack of Hamas on Israel, the highs were **FINALLY** taken, an incredibly precise level that remained intact for almost 3 years was finally broken at market opening yesterday night, with GOLD spiking up all the way to 2147,00$ the highest price point the precious metal has ever reached.
**LIQUIDITY REACTION** The amount of liquidity residing over the triple tops was of course enormous, with breakout and stop loss orders all being triggered at the same time causing a 50$+ movement in a matter of minutes.
This types of movements are very common when an asset breaches all time highs.
**NEXT MOVEMENTS** The next price actions will be essential for the macro trend of the 2024, this could turn out to be a simple liquidity trap OR the beginning of an extensive bull run that could take GOLD easily up to 2500-2600 in a few months.
**BULLISH SCENARIO** To confirm the bullish scenario we need to wait for a full body candle breaking the level with conviction on a daily timeframe, that will be a great confirmation sign to take price much higher.
**BEARISH SCENARIO** To confirm the bearish scenario the present price action is already the first step, price has absorbed the full spike completely at the moment of writing, leaving behind a massive wick over the highs.
The problem with this is that is too clear for everyone watching, the amount of traders entering short positions right now is incredibly high, BUT IS WAY TOO EARLY TO TELL.
**CONCLUSION** I’m quite positive this is a MASSIVE TRAP for short seller trading the liquidity grabs, fundamentally, with a weak Dollar and war tensions still very high, I think it’s time for GOLD to move higher and higher dragging along thousands of trapped short sellers to margin call.