XAUUSD 13/10/24
This week, gold's price action dropped and took out the liquidity to the left, as we discussed in last week's analysis. This move provided enough momentum to fuel a bullish shift, suggesting higher prices are likely, as indicated in our previous analysis. Looking left, there are two liquidity highs that are likely to be targeted next, followed by the all-time high, which is our primary target.
Based on the principle that we may see a pullback into bearish pricing, we have identified an area of demand. If this demand zone delivers a bullish setup, we can look to go long from here, aiming for the all-time high. However, if there is no reaction at this demand zone, we will look for the liquidity below to be taken. Should the price not pull back at all, we will then anticipate the all-time high to be taken directly.
Trade safe and follow your plan.
Have a great trading week!
Based on the principle that we may see a pullback into bearish pricing, we have identified an area of demand. If this demand zone delivers a bullish setup, we can look to go long from here, aiming for the all-time high. However, if there is no reaction at this demand zone, we will look for the liquidity below to be taken. Should the price not pull back at all, we will then anticipate the all-time high to be taken directly.
Trade safe and follow your plan.
Have a great trading week!
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