XAUUSD is still ranging $2030 is the target
I still believe the institutions / market makers have BUY orders sitting at $2030 that they need to close out.
The yellow liquidity spike gives me this idea, since they pushed price up on that very tiny move, then dropped dramatically, it tells me they built some buy orders so they could push up the price and SELL at a better one, obviously their sell orders are in profit, but they are still losing on the buys, for that reason I'm looking for them to bring price back to $2029 so they can close them out.
Even though we are bearish today, I still believe we are in a range because structure has not broken.
The purple zone is a market maker demand zone I drew from the 30min chart.
I'm looking for that to hold up, and if we get a buy signal tuesday morning during london, or even tonight during asia on the H1 it could be a very healthy trade.
I LOVE the fact we have triggered sell orders today, and yet to trigger the buy orders on the other side of this pennant thing we have going on, it tells me there could be more liquidity sitting up there for the marker makers to attack.
How to play gold this week,
depending on price action, look to buy in the purple zone and continue taking buy signals until we get to atleast the pink line. This is the middle of the range and price should be attracted back to it.
Look for the best entry of the week to come tonight, or UK open tomorrow.
....as long as the purple zone holds! Good luck!
The yellow liquidity spike gives me this idea, since they pushed price up on that very tiny move, then dropped dramatically, it tells me they built some buy orders so they could push up the price and SELL at a better one, obviously their sell orders are in profit, but they are still losing on the buys, for that reason I'm looking for them to bring price back to $2029 so they can close them out.
Even though we are bearish today, I still believe we are in a range because structure has not broken.
The purple zone is a market maker demand zone I drew from the 30min chart.
I'm looking for that to hold up, and if we get a buy signal tuesday morning during london, or even tonight during asia on the H1 it could be a very healthy trade.
I LOVE the fact we have triggered sell orders today, and yet to trigger the buy orders on the other side of this pennant thing we have going on, it tells me there could be more liquidity sitting up there for the marker makers to attack.
How to play gold this week,
depending on price action, look to buy in the purple zone and continue taking buy signals until we get to atleast the pink line. This is the middle of the range and price should be attracted back to it.
Look for the best entry of the week to come tonight, or UK open tomorrow.
....as long as the purple zone holds! Good luck!