AI on Gold Consolidating below major high before deeper pullback

29 thg 11, 2023

XAUUSD
Consolidating below major high to absorb buy liquidity before deeper pullback.
Interpreting Liquidity Dynamics in Gold's Advance to 2052 Resistance:

Today's daily high of 2052.06 on November 29th reached the major buy-side liquidity zone of the May 4th, 2023 daily high of 2067.
* Reaching this historical level has likely triggered profit-taking by short-term traders, creating short-term supply.
* In view of the large volume imbalance created by the advance since the mid-November breakout of 2028 resistance, I expect a consolidation range to form below 2052.06.
* Specifically, I anticipate prices will chop sideways within the 2042-2050 range in the near-term as buy-side liquidity is absorbed back into the market.
* This consolidation would counterbalance the outsized gains seen previously without fully retracing the move.
* Once buy liquidity is saturated, prices are then likely to pull back more meaningfully, possibly retracing 30-50% of the entire impulse from 2028 to fill the volume void.

29 thg 11, 2023

Giao dịch đang hoạt động

Here is an update AI powered analysis including recent data on a lower M5 timeframe:
Focus on near-term opportunities, here is an updated intraday Gold USD analysis and forecast:
- Recent price action has been consolidating between 2038-2050 on the M5 timeframe to absorb extended buy-side liquidity from the break above 2038.
- Prices are currently approaching the 2042 M5 pivot high, potentially setting up a buy-side liquidity sweep if breached short-term.
- A brief push above 2042 could trap late long entries, adding short selling pressure on a pullback.
- Immediate support lies at 2038 - a break below this level could see prices range lower in the near future.

- Traders may look for an opportunity to enter longs on a dip close to 2038, targeting a re-test of 2042 resistance on an intraday bounce.

- Alternatively, taking short positions on a break above 2042 with tightened stops could also capitalize on an impending buy-side liquidity sweep back down within the range.

- The primary near-term focus is on opportunities within the 2038-2042 M5 price level range based on available liquidity dynamics.

29 thg 11, 2023

Đóng lệnh: đạt mục tiêu

Short Target reached below 2042. Looking for new opportunities.
Here the latest AI powered short term analysis on Gold:
* Prices approached the 2049 resistance level and pulled back sharply within the hour.
* This confirmed the outlook for a buy-side liquidity sweep and range consolidation below 2049 highs.
* Support has formed near 2041 initially, with lower levels at 2039.
* Between 2041-2043, traders could look for opportunities to enter longs on signs of upside momentum resuming within the range.
* Alternatively, shorts may look to initiate positions near 2046 resistance, targeting a retest of lower pivot supports on potential further selling.

Unless a strong break above 2049 or below 2039 occurs, sideways choppy conditions are likely to persist absorbing extended buy-side liquidity.