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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ElevatingFX - Analyses
Video
This is honestly what I expect to be happening! Ideally directly seeing a 5m FVG coming out of the 1h FVG.
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hey guys, been a long time again! Will try to post some more analysis here!
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