Possible buy for GOLD
Smart Money Concepts
In gold we see a perfect set up at which smart money could play out.
In the daily time frame we see a clearly bullish market so my bias is a buy
At the 4 hour and 1 hour We see some series of almost equal lows. Which we have marked out with a rectangle. What this means now is that there is liquidity below these lows. Price takes out this liquidity in a stop raid taking out the stop losses of most retail traders.
Now we see an order block in the 5 minutes time frame. This order block is valid because it broke some series of structures and volume increased after the order block.
Price is to return to the order block and we will get in at 0.5 of that candle. However because of the high volatility we will get in under 1 minute using Wyckoff .
Our take profit will be at the imbalance seen at the top.
Stop loss will be below the candle.
In gold we see a perfect set up at which smart money could play out.
In the daily time frame we see a clearly bullish market so my bias is a buy
At the 4 hour and 1 hour We see some series of almost equal lows. Which we have marked out with a rectangle. What this means now is that there is liquidity below these lows. Price takes out this liquidity in a stop raid taking out the stop losses of most retail traders.
Now we see an order block in the 5 minutes time frame. This order block is valid because it broke some series of structures and volume increased after the order block.
Price is to return to the order block and we will get in at 0.5 of that candle. However because of the high volatility we will get in under 1 minute using Wyckoff .
Our take profit will be at the imbalance seen at the top.
Stop loss will be below the candle.
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