GOLD ANALYSIS 2ND DEC
Analysis on Gold’s 30-Minute Time Frame
In the 30-minute time frame for gold, we observe a few critical confluences shaping the price action:
1. Trendline Confluence: A visible trendline provides our first area of interest, indicating potential support or resistance.
2. Demand Zone and Traps: Price is expected to move into the demand zone, likely trapping buyers within this zone before filling the Fair Value Gap (FVG). This behavior aligns with the typical structure of price action in such setups.
Key Observations:
• The overall momentum suggests upside continuation, as we notice:
• A break of structure without a breach of significant lows.
• Price action consistently breaking structures, retracing to demand zones, trapping buyers, and then continuing upward.
• In the current scenario:
• Price rejected from supply, broke local lows, and is heading toward the demand zone.
• Upon reaching the demand zone, we anticipate:
• A spike to attract buyers.
• A stop-loss hunt, trapping the demand buyers.
• Filling of the FVG before resuming upward momentum.
In the 30-minute time frame for gold, we observe a few critical confluences shaping the price action:
1. Trendline Confluence: A visible trendline provides our first area of interest, indicating potential support or resistance.
2. Demand Zone and Traps: Price is expected to move into the demand zone, likely trapping buyers within this zone before filling the Fair Value Gap (FVG). This behavior aligns with the typical structure of price action in such setups.
Key Observations:
• The overall momentum suggests upside continuation, as we notice:
• A break of structure without a breach of significant lows.
• Price action consistently breaking structures, retracing to demand zones, trapping buyers, and then continuing upward.
• In the current scenario:
• Price rejected from supply, broke local lows, and is heading toward the demand zone.
• Upon reaching the demand zone, we anticipate:
• A spike to attract buyers.
• A stop-loss hunt, trapping the demand buyers.
• Filling of the FVG before resuming upward momentum.
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