XAUUSD SUPPLY AND DEMAND
Updated
Hi Guys, I'm back with another analysis on gold, In my previous analysis I had 1972 area as a buy zone which this morning reaction happened and on it's way back, area was breached leading to a hidden demand area at 1964 which indeed considerable reaction happened there. Second time coming back there you could take a trade provided that lower time frame confirms the entry.
Just above the 1964, in lower time frame area 1968 is still a demand zone which trades could be taken there if price gets there. In addition to our immediate demand levels we have others below should price get there appropriate action will be taken.
On the sell side we have area 1993 as a sell side zone, again considering market sentiment it is advised to check lower time frame for a confirmed entry.
Be Honorable
Just above the 1964, in lower time frame area 1968 is still a demand zone which trades could be taken there if price gets there. In addition to our immediate demand levels we have others below should price get there appropriate action will be taken.
On the sell side we have area 1993 as a sell side zone, again considering market sentiment it is advised to check lower time frame for a confirmed entry.
Be Honorable
Note
Huge selling off, Price getting close to 1962 demand area for the second time. Make sure you monitor the area closely for secure entry.Note
Demand area has been touched.Note
1962 Broken resistance has been touched. waiting for clues of reversalNote
Demand area has been breached nowNote
Secondary demand area 1954 has been touchedNote
Considerable reaction to 1954Note
+60 Pips rallying up from demandNote
I'll save some profit here. And also I'll bring the stop to break evenNote
+100 Pips AmazingNote
Aggressive market buy participants keep hitting the offer and footprint chart hasn't shown sellers coming into market yet.Note
My target for this position would be 1971- 1974. Make sure you watch for it.Note
it's getting close to my target +140 pipsTrade closed: target reached
Target has been hit I'm out of the trade officially. RRR 1:3 , +170 PIPS
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