Gold Educational Analysis 22/12/2024
Gold 23hour timeframe
Gold has exhibited a bearish reaction, triggering the liquidation of positions below the $2608.00 level. Beneath this level, there is a Fair Value Gap (FVG) and Order Block (OB) around $2580.00, where price previously exhibited a bullish reaction, reaching up to $2631.00.
Upon analyzing the 23-hour timeframe, I have identified key institutional areas and refined these levels by examining lower timeframes.
By mapping out these institutional zones on the higher timeframe, I am able to establish a clearer and more robust bias for the price action of gold.
This suggests that gold may experience an upward movement, as it has recently filled an institutional zone on the higher timeframe.
Gold 4 hour time frame educational analysis
Analyzing the 4-hour timeframe provides a clearer view of our refined zones. The institutional area around $2680.00, where gold previously reacted bullishly, shows that gold is currently exhibiting a bullish response and is moving towards key institutional zones sitting above $2680.00
Gold 1 hour timeframe
Analyzing the 1-hour timeframe provides a clearer breakdown of market structure, revealing how gold is reacting from the $2580.00 level. Gold initially moved bullishly to $2631.00, where it filled a Fair Value Gap, resulting in a slowdown in price momentum.
Additionally, there is an institutional area around the $2600.00 to $2603.00 range as well as at around $2640.00 - $2647.00 range, which could influence the next phase of price action.