deep gold dissectation of accumulation ( educational purpose)
On long term expect retracement to the 1925-1980 zone.
On daily candle of 2th\3th September both showed a presence of supply but didn’t break our 1920 ish zone for after the buyers showing power and getting brought back down to that zone by the sellers but still they be showing not having enough selling interest to break the level and that two time for now with our daily candle still at 16 hours only from closing.
Even if it being showing overbought price on the monthly for the RSI I still see it possible to move higher, and lets me honest, if you kno how the market works you know that if the market want to go up it gives not sh*t about no RSI .
On the hourly price made a SOS and showed decrease of supply volume on the retracement. This is the two situation I see for now . Either price could break 1945 and go straight to our red zone OR it could touch 1945 and form a LPS to and bring us back to our 1935 current zone. SO what I suggest you is, that if you have no experience ready supply and demand balance, it would be to wait for a break of 1945 on increasing volume before taking a trade. If you have experience, you can scalp it for now, and read how it reacts when it get to our resistance level .
on the 4 hour we can how price reacted with a big absorption of supply the last times. Showing big interest buying.
Hello fellow ninja traders.
You would be really freaking awesome if you could support this idea with LIKE if you see the same thing, or if it was benefiant to you in any kind of way. If you have any comments or questions, leave me a comment, its gonna be a pleasure answering you.
Before taking ANY setups always analyse it yourself with you OWN perception first. The holy spirit of the market could come and give me a setup and I would STILL look at it on my own before. And also respect your risk management. Only time a trade should be close as a lost should be always as a SMALL lost. ; cause BIG GAINS SMALL LOST FAM , keep that in mind
Trade at your own risk, smartly and mindfuly.
Human potential only.
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