Good outlook on the gold chart today!
So what is happening here. We went into a 4h fair value gab with 2 candles. the second candle swept the previous candle low and with this, hit the fair value area also called orderblock/breaker block etc..
A 4h fvg confirmation can be entered with a strong 5m fvg or 2x a 5m fvg. The best entry from a 4h, is a 15m FVG, which is being seen here. Currently a 15m fvg is still holding but we have some resistance of a 1h fvg. This 1h fvg however didnt gave any strong 5m FVG's downward, meaning, bullishness is more likely.
Moral of the story, you don't need any difficult trading strategy or indicators to tell you what the market is doing. Just focus on the FVG'S and you will be all set to know where the market is most likely to go to.
So what is happening here. We went into a 4h fair value gab with 2 candles. the second candle swept the previous candle low and with this, hit the fair value area also called orderblock/breaker block etc..
A 4h fvg confirmation can be entered with a strong 5m fvg or 2x a 5m fvg. The best entry from a 4h, is a 15m FVG, which is being seen here. Currently a 15m fvg is still holding but we have some resistance of a 1h fvg. This 1h fvg however didnt gave any strong 5m FVG's downward, meaning, bullishness is more likely.
Moral of the story, you don't need any difficult trading strategy or indicators to tell you what the market is doing. Just focus on the FVG'S and you will be all set to know where the market is most likely to go to.
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The Asian low on gold gave a reaction. The first time it hit this low, a good buy entry was possible.
However, the price completely failed to push price above the highs. And as we're still in a daily FVG, which makes us consider price to remain bearish.
Now price went all the way back below the 4h low and created a 5m FVG. showing sellers are in control.
On the 4h you can see a double closed body which is a beautifull target for sells. As there must be liquidity laying there.
Failure of zones + confirmation of sellers taking control gives a good bias for trades
However, the price completely failed to push price above the highs. And as we're still in a daily FVG, which makes us consider price to remain bearish.
Now price went all the way back below the 4h low and created a 5m FVG. showing sellers are in control.
On the 4h you can see a double closed body which is a beautifull target for sells. As there must be liquidity laying there.
Failure of zones + confirmation of sellers taking control gives a good bias for trades
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What is gold up to today?
2 possible scenarios in play.
The first green line you see is the 4h double closed body line. Which is, as you can see, giving a good reaction.
There is a 1h FVG above which we are currently waiting for to be mitigated. A strong sell can possibly become the outcome as we have a beautifull target below. The daily FVG!
If the 1h FVG however is not going to give a good sell possibility, we then will be looking for buys again!
For now we just need to sit on our hands and wait for price to show us the direction
2 possible scenarios in play.
The first green line you see is the 4h double closed body line. Which is, as you can see, giving a good reaction.
There is a 1h FVG above which we are currently waiting for to be mitigated. A strong sell can possibly become the outcome as we have a beautifull target below. The daily FVG!
If the 1h FVG however is not going to give a good sell possibility, we then will be looking for buys again!
For now we just need to sit on our hands and wait for price to show us the direction
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This morning we woke up with a sweep of 2 previous day candles! Price directly started to show bullish orderflow as you can see on the chart!
Price currently failed to push price lower and started showing a lot of bullish volume towards the Asian high!
The Asian low/high can be seen as liquidity points! Which can either serve as a magnet or as a launch point!
Price currently failed to push price lower and started showing a lot of bullish volume towards the Asian high!
The Asian low/high can be seen as liquidity points! Which can either serve as a magnet or as a launch point!
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Perfect example of 2-candle rejection from a 4h FVG!
First candle failed to push price higher and failed to show FVG's forming on the 5 or 15m timeframe.
Price can be seen making a perfect liquidity line on the 5m. and now price broke the structure with a double 5m FVG out of the 4h FVG.
This trade is pure class as there is 0 resistance against the trade.
Yet, protecting a trade like this is key in a month where the volume is not up to standards
First candle failed to push price higher and failed to show FVG's forming on the 5 or 15m timeframe.
Price can be seen making a perfect liquidity line on the 5m. and now price broke the structure with a double 5m FVG out of the 4h FVG.
This trade is pure class as there is 0 resistance against the trade.
Yet, protecting a trade like this is key in a month where the volume is not up to standards
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Gold has been bullish over the past 5 trading days! With the possible rate cuts coming in on the 11th of September, gold will keep on pushing higher!
In Asia, gold made a correction, falling straight into the daily and 4h FVG!
Price gave us a good 15m fvg out of this zone and so we capitalized on it with now both our TP's smashed!
Higher confirmation
Daily +4h
Lowever confirmation
15m
No resistance anymore as 1h has been taken out!
Lets go for hattrick
In Asia, gold made a correction, falling straight into the daily and 4h FVG!
Price gave us a good 15m fvg out of this zone and so we capitalized on it with now both our TP's smashed!
Higher confirmation
Daily +4h
Lowever confirmation
15m
No resistance anymore as 1h has been taken out!
Lets go for hattrick
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