supply sell setup
Gold 4HR chart
Price is in a uptrend with the following key price areas to look at swing high at 2 483 a break and close above this area will invalidate our HTF sell trades and swing low at 2 297 a break below this low will validate our HTF sell trades and must retail traders will join in the ride as it is a key support area they are looking at to take buys, this will cause price to accelerate to the downside aggressively.
We do have inner price structures we need to keep an eye on the recently formed swing low at 2 364 which has been test on two counts now making it technical level where retail are looking to take trades at. Our main focus is at the supply zone at 2 451 to cause price to drop targeting the HTF swing low at 2 297. This trade will be invalid should price break and close above this zone and price fails to return to this zone within 30 days.
Price is in a uptrend with the following key price areas to look at swing high at 2 483 a break and close above this area will invalidate our HTF sell trades and swing low at 2 297 a break below this low will validate our HTF sell trades and must retail traders will join in the ride as it is a key support area they are looking at to take buys, this will cause price to accelerate to the downside aggressively.
We do have inner price structures we need to keep an eye on the recently formed swing low at 2 364 which has been test on two counts now making it technical level where retail are looking to take trades at. Our main focus is at the supply zone at 2 451 to cause price to drop targeting the HTF swing low at 2 297. This trade will be invalid should price break and close above this zone and price fails to return to this zone within 30 days.
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