Gold price briefly swept below 5,000 all the way down to 4,967, then printed a strong rejection and formed a short-term bullish structure during the late US session.
That wick below $5K? That was a liquidity grab. The market hunted stops below this round number and then snapped back. Classic PA.
The doji + 5,000 demand zone, and rice is currently testing the 5,010–5,020 intraday resistance zone, All we need a H1 or H4 close above 5040 to get confirmation of strength and I'm watching for a push into 5,080–5,100 if price respect 5000 level as of now.
That wick below $5K? That was a liquidity grab. The market hunted stops below this round number and then snapped back. Classic PA.
The doji + 5,000 demand zone, and rice is currently testing the 5,010–5,020 intraday resistance zone, All we need a H1 or H4 close above 5040 to get confirmation of strength and I'm watching for a push into 5,080–5,100 if price respect 5000 level as of now.
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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.