GOLD EDUCATIONAL TRADE IDEA - 10/12/2024 ASIAN SESSION - ANALYSIS EXPLAINED
Originally, i had set up a buy trade idea for Gold at 2658.50 as we had a FVG area below current price.
PLEASE REFER TO THE ANALYSIS BELOW
The order flow for Gold is currently bullish.
The market structure for Gold on the 5 minute and above is also Bullish. Even though Gold is currently bullish, Prices would still need to drop to create a Higher Low for market structure as well as fill in Institutional areas before continuing it's bullish run!.
Above current price, we do have a Order block area sitting around 2680.00, This area could cause Gold to drop and create a new Higher Low.
We also have a FVG sitting at 2658.50 price area. This FVG also respects the order flow of the market as well as the market structure, meaning a very good area for Gold to create a Higher Low for the bullish run.
PLEASE REFER TO THE ANALYSIS BELOW.
Gold had a bearish reaction at 2676.00 due to the Orderblock area. This bearish had then reacted off the FVG area i had marked up at 2658.50.
During the bearish reaction from 2676.00 to the FVG, Gold prices has also engineered Liquidity creating fractal Lower highs on the 1 minute timeframe.
During this period of analysis it is important to remember.
The orderflow is bullish
The market structure is still intact and no Higher Lows have been broken.
Gold has just created a new Higher High at 2676.00
Gold now needs to create a Higher Low
Gold is now reacting off the FVG area sitting at 2676.00
Gold prices also engineered liquidity during the bearish run from 2676.00 to the FVG area, These lower high liquidity are now targets for Gold.
Now it is just a matter of finding a entry point for the bullish run
PLEASE REFER TO THE NEXT ANALYSIS.
After doing some new analysis at the FVG area, we also had a Orderblock beneath the FVG area on the left hand side.
Analysing the 5 minute timeframe where current price is, Gold is engineering liquidity below current price and we also had a new orderblock area sitting just beneath this liquidity.
This orderblock area was a very good point of interest as we have liquidity sitting above current price and we also have fractal liquidity and a orderblock area at 2658.00 sitting just beneath the fractal liquidity. This would engineer enough momentum to push Gold prices up to continue its bullish run and bullish orderflow.
This orderblock level at 2658.00 is a really good entry point for a buyas it was very unlikely for Gold to drop below 2655.00.
PLEASE REFER TO THE NEXT ANALYSIS.
As we can see Gold had then continue it's bullish run to the upside, taking out the liquidity that was created during the bearish reaction from 2676.00 and actually hitting the take profit area. I had gotten out early and secured profits at 2667 before London session opened.
The order flow and market structure is very bullish and we could see gold push up for a while.
#PEWPEW 🔫🔫