🟡 GOLD – Two Key Scenarios on the Table
Bias: Neutral → Waiting for confirmation of Wave 2 completion
🔑 Technical Breakdown
Scenario 1 (Discount Retracement):
Price pulls back into discount territory.
Confluence with a strong support level.
This would complete Wave 2 correction before setting up the Wave 3 impulse higher.
Ideal long opportunity if buyers defend this zone.
Scenario 2 (Liquidity Grab First):
Current impulse leg continues higher tonight.
Price then retraces deeper to clear buy-side liquidity created from Friday’s rally.
That liquidity sweep would then finish Wave 2, before the bigger Wave 3 expansion higher.
Bias: Neutral → Waiting for confirmation of Wave 2 completion
🔑 Technical Breakdown
Scenario 1 (Discount Retracement):
Price pulls back into discount territory.
Confluence with a strong support level.
This would complete Wave 2 correction before setting up the Wave 3 impulse higher.
Ideal long opportunity if buyers defend this zone.
Scenario 2 (Liquidity Grab First):
Current impulse leg continues higher tonight.
Price then retraces deeper to clear buy-side liquidity created from Friday’s rally.
That liquidity sweep would then finish Wave 2, before the bigger Wave 3 expansion higher.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.