BTCUSDT. Trading opportunityHi traders and investors!
Update on the Bitcoin situation.
Daily Timeframe
On the daily time frame (TF), the seller's candle with increased volume did not yield results relative to the wick of the previous candle.
Hourly Timeframe
On the hourly TF, there is a range, and the buyer is defending the lower boundary of the range at 59,828. The current buyer's vector is 5-6, with a potential target of 63,468 (64,478). The key candle (the one with the highest volume) in the seller's vector 4-5 is at the bottom of the vector ("KC" on the chart), and it was absorbed by the buyer.
Highlights
Based on both the daily and hourly TFs, the current priority is to look for buying opportunities.
Threats to the buyer:
The level marking the start of the seller's last sub-impulse on the hourly TF is 61,321, which is also the high of the last daily candle.
There's also a seller's zone (red rectangle on the chart), with the lower edge at 62,326.
VSA
LAURAS LABS - A Stock to WatchThe stock has been moving up slowly and on the weekly, it has been making higher highs and higher lows. Also, it has been repeatedly bouncing from the 200 DMA. Currently after making a higher high on the weekly, it was pushed down back to the 200 DMA from where it has been bouncing. Now it has moved past the short-term moving averages as well. In the last few sessions, we saw good buying up bars. However, the key parameters like relative strength, money flow and the volume driven momentum are still in the negative territory tending to move to the positive side. Ideally this stock should make another higher high surpassing the earlier higher high which was around 520 levels. Ideally one should wait till it crosses 477 levels and all key parameters turn positive. This will also help to confirm that there is follow up bullishness. Hence this is a stock to watch.
MAZAGON DOCKS - ON A RECOVERY PATH ?The stock after a buying climax bar in the month of July was overwhelmed with the supply of the BC bar and was pushed down to below the 50 DMA levels. Then it started accumulating around the 50 DMA and now it's finally getting pushed above the short-term moving averages. And all the key parameters like the relative strength, absolute strength, the money flow, buying pressure are all nicely stacked up favouring further up move. So, this could move up again. Another 1000 points testing 5400 levels. However, it is better to watch the next couple of bars to see if there is follow-up support coming.
EURUSD. Medium term analysisHello traders and investors!
The previous medium-term analysis can be found in the related idea. Some new interesting information has emerged, which I would like to share with you.
Weekly Timeframe Analysis
On the weekly timeframe, a sideways movement has been forming since October 2023 (with point 4 established). The upper boundary is 1.12757, and the lower boundary is 1.04485. The current seller’s vector is 7-8, with a potential first target of 1.06011. Last week, the seller resumed activity. A potential threat for the seller is the buyer's zone (marked by a green rectangle on the chart), with its upper edge at 1.08851.
Daily Timeframe Analysis
On the daily timeframe, there was a sideways movement starting from August 2024 (point 4 was established). The upper boundary was 1.12142, and the lower boundary was 1.10002. The seller's vector 9-10 broke below the lower boundary, initiating a short trend. The beginning of the last seller's impulse is 1.09973. The end of the impulse will be confirmed when we see the first daily candle of the buyer. The end of the previous seller's impulse was at 1.09514.
Highlights
The priority is to look for sell opportunities.
Purchases should be considered if the price returns above 1.09973, and the buyer protects this level.
If we look at the average time taken for vectors in the sideways movement on the weekly timeframe, it generally takes about 15 weeks for the price to realize the vector, meaning that by approximately January 2025, the seller might reach their target. If we account for a mathematical progression (+3 weeks to the next vector), it may take around 21 weeks to achieve this.
Good luck with your trading and investments!
TATN 5M Daytrade Short Aggressive Trend TradeAggressive Trend Trade
- long impulse
+ biggest volume T1
+ biggest volume 2Sp-
+ weakness
- didn't wait for test to complete
+ target before 1/2 of hourly wave
Calculated affordable stop loss
1 to 2 R/R take profit
1H Trend
"+ exhaustion volume
+ short impulse
+ 1/2 correction
+ SOW / T2 volumed level
+ volumed manipulation"
1D CounterTrend
"- long impulse
- T1 level
+ resistance level
+ biggest volume manipulation"
1M Trend
"+ short impulse
+ SOW level
+ 1/2 correction
+ resistance level"
Convertible to Swing / Investment trade if 1H and 1D close right.
Watch out for the gap since it's a stop market!
Microsoft. There is still potential for the price to decline.Hello traders and investors!
Let's take a look at the situation with Microsoft stocks. I believe there is still potential for the price to decline.
Weekly Timeframe
On the weekly TF, there is an attempt to reverse the long trend. The first seller's impulse has been formed. The level of the last buyer’s impulse start is 445.66, and the level of the last seller’s impulse start is 468.35. The end of the last seller's impulse is at 385.58.
Key candle in the seller's impulse is from July 24 (largest volume in the impulse, marked as "KC" on the chart). It was tested by the buyer on August 19. The test level is 426.70. The buyer missed the 50% level of the seller's impulse (426.97) by 27 cents. Then, the buyer attacked the test level with two candles on increased volume, bringing the price above the 50% level, but the seller pushed the price back below the test level (426.70), forming a seller's zone above (red rectangle on the chart). Further price decline is likely, with the first target at 400.8, which is the start of the last buyer's sub-impulse on the weekly TF.
Daily Timeframe
On the daily TF, there’s a sideways range (formed on August 22, with point 4). The upper boundary is 432.15, and the lower boundary is 385.58. The relevant seller's vector is 6-7, with the first potential target being 400.8 (then 385.58).
The buyer's vector 5-6 broke above the upper boundary of the range, gathered volume, and the seller returned the price to the range, forming a seller's zone at the upper boundary. This zone was tested on September 26, after which the seller's continuation began. The buyer attempted a recovery on September 30 with increased volume but failed to deliver results. Yesterday, the seller engulfed the buyer's candle.
Highlights
On both the weekly and daily TFs, the priority is to look for selling opportunities. The last daily candle has increased volume, making it a good point to start looking for sell opportunities. On the daily TF, possible threats to short positions include the 50% level of the last buyer's impulse at 413.72 and the buyer's zone with an upper boundary at 410.65 (green rectangle on the chart).
It makes sense to consider buying opportunities when the buyer shows strength, for example, when interacting with the levels of 400 or 385 and defending them.
How to decode candle volumes is explained here
Good luck with your trading and investments!
SMLT 1H Swing Long Aggressive CounterTrend TradeAggressive CounterTrend Trade
+ long impulse
+ 1/2 correction
+ volumed T1
- support level???
+ volumed 2Sp+
+ weak test
+ first bullish bar closed entry
Calculated affordable stop limit
1 to 2 R/R take profit expandable to Investment trade
Daily CounterTrend
"- short impulse
+ volumed TE / T1
+ support level
+ volumed Sp
+ weak test"
Monthly CounterTrend
"+ short balance
+ ICE level
+ 1/2 correction
+ support level
+ biggest volume manipulation"
AUDUSD. Medium and short term analysisHello traders and investors!
The price reached the target of the forecast from April.
Some medium-term forecasts take a long time to come to fruition. It creates the impression that medium-term forecasts always come true. You can use the following criterion to consider a forecast fulfilled: ensure that the price does not break the last local extreme before reaching the target. If this condition is met, the forecast can be considered successfully realized. In the April forecast, the last local extreme is point 5 of the sideways range (0.62701).
Weekly Timeframe Analysis
Let me remind you that on the weekly timeframe (TF), a sideways range has been forming since January 2023 (point 4). The lower boundary is 0.61699, and the upper boundary is 0.71577. Formally, the buyer has reached the target of the 5-6 vector (0.69205), and there are no signs of reversal yet. The last two weekly candles show increased volume, with small buying wicks. However, the price is currently in the seller's contextual area (the upper range of the weekly TF sideways movement), but the seller is not utilizing this volume yet.
Daily Timeframe Analysis
On the daily TF, a sideways range has been forming since August 24 (point 4). The lower boundary is 0.63478, and the upper boundary is 0.67985.
The buyer's 4-5 vector has broken through the upper boundary of the range. For three days, the price has been unable to break through the level marking the start of the last seller's sub-impulse on the weekly TF (0.68996). Below, the buyer is defending the breakout of the last sub-impulse seller level on the daily TF (0.68239). For the last two days, the buyer has applied increased volume with no result. On the other hand, the price is in the seller’s contextual area (the upper range of the weekly TF sideways movement), so the seller should be evaluated first—and so far, the seller is absent.
Highlight:
• There are no signs of the seller on either the weekly or daily TFs to justify looking for mid-term sales. A sign of the seller could be a return of the price to the daily TF sideways range and the seller defending that return.
• There is no context for mid-term buys, as the price is in the upper part of the weekly TF range (a seller's contextual area).
2H Timeframe Analysis
For short-term buys or sells, you can use, for example, the 2-hour TF. On this TF, there is a sideways range, with the seller’s 7-8 vector being active and the potential target at 0.68179.
The seller has returned the price to the range (below 0.69081), forming a seller’s zone above (marked by a red rectangle on the chart). Sales can be considered. When selling, monitor the price's movement around 0.6868 and 0.68625.
Purchases can be considered from the lower boundary of the range (0.68144) if the buyer defends it.
Good luck with your trading and investments!
Snoflake [SNOW] Wyckoff Bullish PatternsVery fundamental company. The last consolidation after very large drops is a good prognosis for an upward exit. It is necessary to focus on Wyckoff Wave Volume, which decreases at the bottoms. This means a decrease in selling pressure. There were two shafts with a very large purchase volume and a wave marked with volume 200. It was a very large sale that did nothing to the price. This sale was absorbed by buyers.
This security has typical accumulation features. In my opinion, it is on BUY with a target of $ 140/150
For more analyses using price and volume and the Wyckoff method, subscribe to the profile
NLMK 1H Long Swing Trend TradeTrend Trade
+ short impulse
+ support level
+ biggest volume T1?
- 1 bar reversal?
+ volumed 2Sp
+ weak test to 1/2
+ first bullish bar closed entry
Calculated affordable virtual stop
1 to 2 R/R expandable to 1D if closed Sp take profit
Daily Trend
" + long impulse
+ 1/2 correction
+ JOC level
+ support level
+ volumed manipulation"
Monthly Trend
"+ long impulse
+ T2 level
+ support level
+ volumed manipulation"
XAGUSD. Trading opportunityHello traders and investors!
Daily Timeframe Analysis
On the daily timeframe, the price has formed a sideways range that began in April. The upper boundary is 32.5185, and the lower boundary is 26.0185. The buyer's vector 8-9 has reached the target of 31.755 (see the previous post). There are no signs of a reversal yet to indicate the realization of the seller's vector 9-10, with a potential target of 26.471.
4H Timeframe Analysis
On the 4-hour timeframe, the price has formed a sideways range below the level of 31.755. The upper boundary is 31.4335, and the lower boundary is 29.7085.
Currently, the buyer has broken through the upper boundary of the range. If the buyer defends the 31.4335 – 31.755 range, it is possible to look for buying opportunities, with a potential target of 32.5185.
Good luck with your trading and investments!
BNBUSDT. Trading opportunityHello traders and investors!
Daily Timeframe Analysis:
On the daily timeframe, the sideways movement that began in March continues. The upper boundary is 721.8, and the lower boundary is 495.8. The buyer's vector 10-11 is relevant, with a potential target of 645.2.
Two days ago, the buyer overcame 598 and reached 605.6, where volume accumulation started. If the buyer defends 598, the next targets are 635 and 645.
Hourly Timeframe Analysis:
On the hourly timeframe, there is an uptrend. The level marking the beginning of the last buyer's impulse is 587.9. I will be watching the buyer's reaction at the levels of 598 and 587.9.
Good luck with your trading and investments!
GOLD Will Remain Bullish Tomorrow As Well 100%!Hello traders,
GOLD is expected to experience a very minor correction, presenting a buying opportunity.
NO BEARISH OPPORTUNITY!
Bullish Opportunities:
We are anticipating two possible scenarios for gold prices;
Scenario 1: Gold may experience a minor downturn to the $2576-$2573 range, where we will seek confirmation and consider entering a long position.
Scenario 2: Alternatively, gold prices may extend their decline to the $2568-$2565 range. While this scenario has a lower probability due to the current buying momentum, it still presents a potential buying opportunity
Gold (Xauusd) Entry LevelsAt the current price of 2517, we can consider a risky trade with a stop loss of only 10 pips. It is advisable to use a small lot.
Buy limit 2516
SL: 2515
TP1: 2524, TP2 2528
Today's Entry Levels:
If today's price breaks above 2030 level, it is likely to reach 2050. We can enter a buy trade after confirmation. We will keep you updated.
If the price moves downward, we can consider buying at the 2500-2503 levels due to several rejections at this price and order brokers. If the price breaks this level, we can consider a selling trade and find an entry. We will provide updates after confirmation.
[Daily Bias] Gold - Thu 091212024 - Drop lower Following the significant drop after yesterday's CPI release, I anticipate further downside today, especially as the market transitions from the Asian to London session.
If the previous day's Value Area Low (VAL) holds, we may see a retest of the Value Area High (VAH) or the Developing Point of Control (DPOC). However, if the VAL fails to support the price, a deeper decline is likely
[Daily Bias] Gold - Wed 09112024 - Continue RallyThe price is rallying with strong momentum, and I expect the rally to continue today following the CPI release. I anticipate two possible scenarios:
The previous Value Area High (VAH) holds, allowing the price to continue its upward rally after the CPI release.
The price pulls back into the previous Value Area, holds there until the CPI release, and then resumes the rally
[Daily Bias] Gold - Mon 09092024 - Selling dayAfter a significant drop on Nonfarm Friday, I'm looking for selling opportunities today. There are two potential scenarios:
If the price rallies up to the previous Value Area Low (VAL), I will look for a selling opportunity once it starts to drop again.
If the price cannot be rejected at the previous VAL, I will consider selling at the latest Developing Volume Point of Control (DVPOC)
Bitcoin - Technical AnalysisDear Analysts and Traders,
Looking at the Bitcoin price chart, I notice a variety of structures described by Technical Analysis. My attention is particularly drawn to elements related to the Elliott and Wyckoff methodologies. The market appears chaotic yet orderly at the same time.
I must mention that I am not someone with formal education in this field. I am self-taught, placing a strong emphasis on using Technical Analysis as the main component of my decision-making process. This stems from my belief that although the chart is difficult to read, it largely allows for the interpretation of the hidden intentions of "smart money." I want to stress that the following words reflect only my personal point of view, which may not be correct, and that this publication is by no means investment or educational advice as understood by any law regulating such matters. I simply intend to ramble about topics I don’t fully understand.
Background
Bitcoin's price is in a long-term upward trend. Over the past year, there has been a strong upward trend within a broad sideways structure. Today, the price is near the upper boundary of this multi-year structure, and at the same time, at the lower limit of a smaller structure.
Technical Analysis
In my considerations, I will use elements of the Elliott, Wyckoff, and VSA methodologies.
I begin by applying the key elements of these methodologies to the price chart from recent months. Starting with Elliott's five-wave approach, I outline the trend that has brought the price to these levels, marking it as (12345). Next, I highlight the three-wave corrective patterns with a white (ABC), creating a complex correction structure.
I add events consistent with the Wyckoff method to the chart. Due to the complex nature of the studied structure, I decide to mark processes of varying scales. I do this with verbal descriptions in red and green, supplemented by horizontal lines indicating support and resistance. The structure described in red is the dominant one. I analyze the volume dynamics, marking them with dashed lines and a red loop.
Additionally, I pay attention to candlesticks, especially in the context of VSA and their specific meaning in key areas, such as extremes or events related to the methodologies used.
Interpretation and Thoughts
Without a doubt, Bitcoin’s price structure is both intriguing and complex. Looking at the most basic elements of the chart, I see strength, and at the peaks, I don't notice setups like Trap UpMove or Upthrust with volumes significantly deviating from the average. Instead, there are numerous Shakeout events, often followed by local volume peaks in its declining trend. This is different from the setup at the point I marked as Phase C. According to Wyckoff’s method, this is where the largest volume since the halt of the uptrend has appeared. The Green Upthrust is particularly interesting. As part of a smaller structure, which I believe to be accumulative, it indicates No Demand. Of course, this is a sign of weakness, but what matters to me is the background, where significant potential distribution is evident, with signs of weakness seen through multiple breaches of the lower part of the trading range. I could treat this situation as Phase C, but of a distribution phase. However, I believe there is no overwhelming supply here, and in the actions of the Composite Man, I would expect an attempt to lead the crowd to the highest possible regions, trap them, and guide them to the inevitable. Here, the rhetoric is different—the market appears weak, but the area around Preliminary Supply has been strongly defended by the bulls.
From an Elliott perspective, I see a complex correction, and I believe it is a triple three, consisting of a flat correction, a three, and a zigzag. The end of this series of corrections, in my opinion, begins Phase C of the highest-order accumulation in this area of the chart. Supporting the thesis of an accumulation process is the volume, which follows a characteristic pattern: huge volumes at the halt, followed by a steady decline in Phase B, particularly during the descent from the peak of the Red Upthrust. The test of Phase C is abrupt, and the price once again forms a smaller structure. Here, I expect a test to appear, especially on a higher timeframe, confirming No Supply. For now, despite the chart’s grim appearance, I see more of a transfer of assets from the crowd rather than an attempt to push the price significantly lower.
The Bitcoin price chart presents a beautiful structure from a Technical Analysis perspective. I believe there is much more to be uncovered. I think my reflections on these price movements provide a basis to claim that an accumulation process is underway. Soon, confirmation of the lack of selling pressure will likely emerge—if I am interpreting the market correctly. The smaller Green Structure is a kind of retest that could evolve into a Turning Point.
Soon, the market will reveal whether my assumptions are correct and make clearer that which allows for easy analysis... after the fact!
Thank you all for taking the time to read my thoughts. I wish you successful analyses and winning positions!
CatTheTrader
Two Roads to Profit. A Comparison of ICT/SMC and Advanced VSAHello traders and investors!
When we start engaging in trading and investing, we get acquainted with various methods of forecasting price movements. Gradually, if we have enough persistence, strength, and patience, we choose our own path to profitable trades. Among the most popular approaches, we can highlight the use of various oscillators and channels, Dow Theory, Elliott Waves, Fibonacci levels, supply and demand, Volume Spread Analysis (VSA), market auction theory, and the Inner Circle Trader/Smart Money Concept (ICT/SMC). Many traders combine elements from different approaches into their trading system.
I personally prefer a concept I call Advanced VSA. It’s a comprehensive set of tools that combines ideas from VSA, Dow Theory, and Supply and Demand analysis. The name "Advanced VSA" perfectly captures the essence of the method, as it is fundamentally based on analyzing volume and price spread.
Recently, the ICT/SMC concept has been gaining more and more popularity. Today, I want to explore the similarities and differences between ICT/SMC and Advanced VSA. If there are any inaccuracies in my explanation of ICT/SMC basics, feel free to correct me in the comments. Perhaps after reading this article, you’ll be able to decide which approach resonates more with you and which one you believe will help you in your trading. I hope this will be helpful. Let’s dive in!
Basic Differences
Before diving into the technical details, let's first clarify the key differences between these concepts.
Who Controls Price Movements
The ICT/SMC concept assumes that price movements are controlled by large players, such as market makers, who direct prices in the desired direction. This is similar to a model where one "center of power" determines the market's direction.
In contrast, Advanced VSA is based on the idea that two forces influence price — the Buyer and the Seller. All analysis revolves around the interaction between these two sides, creating a more balanced model where both forces are equally important.
Traded Volume
The ICT/SMC concept does not use traded volume as a part of its analysis.
In Advanced VSA, volume is an important factor. It is considered an integral part of the data that helps to understand market processes and the actions of participants.
Now let’s move on to a detailed comparison of the elements of these concepts.
What They Have in Common
Both concepts teach traders to identify price ranges on the chart where a large player (Market Maker in ICT/SMC) or a Buyer (in Advanced VSA) shows interest in buying, and ranges where the Market Maker or Seller is interested in selling. When the price returns to these ranges, traders can execute buys or sells. We can call these price ranges contextual areas for buying and selling.
Neither concept relies on technical indicators. Instead, they focus on the following key terms for identifying the trade direction and the trade entry point:
Trend
Trend break/half-trend
Trend confirmation
Accumulation/Distribution/Sideways movement/Flat
Contextual areas for buying and selling
The first four terms help determine the direction of the trade, while the fifth helps identify the entry point and the likely target of the trade.
Both methods suggest using higher timeframes to find contextual areas and lower timeframes to find entry points within those areas.
What Are the Differences
The differences between the concepts lie in the interpretation of key terms. For the first four terms (trend, trend break, trend confirmation, accumulation/distribution/Sideways movement), the distinctions are minor and relate mostly to specific interpretations. However, the main differences arise in the rules for identifying contextual areas of interest (buyer, seller, or market maker). Let's look at these differences in more detail.
Difference 1: Use of Volume
In ICT/SMC, contextual areas of interest are determined solely based on price action and candlestick patterns, without taking traded volume into account.
In contrast, Advanced VSA sees volume as an integral part of the analysis. contextual areas of interest are identified by both traded volume and price behavior (candlestick patterns). If there was interest from a buyer, seller in a specific price range, leading to a price change, it's logical to assume that the volume traded in that range should be higher than in previous periods over a similar timeframe.
To illustrate the importance of using all available data for analysis, consider an analogy with choosing the best time for a seaside vacation. If the decision is based only on water and air temperature, while ignoring factors like wind or rainfall, the choice may be misguided. For example, choosing April for its comfortable temperature might result in encountering constant rain and high waves.
Thus, in Advanced VSA, volume plays a crucial role, whereas it is absent in ICT/SMC.
Difference 2: Types of Contextual Areas of Interest
In ICT/SMC, the following types of contextual areas of interest are used: order block, breaker, mitigation block, and rejection block. All of these areas are formed by a specific arrangement of candles on the chart.
In contrast, Advanced VSA operates with a different set of contextual areas of interest: effort, zone, and range (sideways movement). Effort refers to a single candle or bar that indicates significant market activity. Zone is formed by a sequence of candles or bars, taking into account their traded volumes. Range (sideways movement) is defined by a series of consecutive candles/bars where price fluctuates within a limited range, interacting alternately with the upper and lower boundaries of the range. It's only possible to identify which party (buyer, seller, or market maker) controls the range after the price breaks out and confirms the move.
If the volumes align with Advanced VSA's criteria, order blocks and mitigation blocks in ICT/SMC can be considered as zones in Advanced VSA. So, not all order blocks and mitigation blocks will be considered zones in Advanced VSA. The breaker will be discussed separately, and there is no equivalent to the rejection block in Advanced VSA.
Difference 3. Price Attraction Points
In ICT/SMC, concepts such as fair value gap, liquidity void, and liquidity are used to describe price attraction points.
In Advanced VSA, the terms fair value gap and liquidity void are not utilized. Most of the time, these ICT/SMC elements correspond to price interest points in Advanced VSA, such as effort. The term liquidity has the same meaning.
Difference 4. Importance of Levels
In Advanced VSA, levels play an important role in identifying trade opportunities. To understand the significance of levels, let’s first recall the concepts of trend and range (sideways movement). In both ICT/SMC and Advanced VSA, a trend is broken down into components, often referred to as impulses or expansion moves. A range, on the other hand, is characterized by its boundaries and the vectors of price movement between those boundaries.
In Advanced VSA, important trading signals include the defense of a broken level or a price retracement to a level followed by its defense.
In Advanced VSA, the defense of a broken level or the cancellation of a breakout (where the price returns back behind the broken level) followed by a defense of that level is considered a signal for identifying trades. This method helps traders spot potential entry points where either buyers or sellers to protect a key price level, giving more confidence in the direction of the market. The most important levels include the base of the last impulse, the boundaries of a range, and the test level of a zone.
In ICT/SMC, there are no direct equivalents of these elements when it comes to searching for trades. However, breakers and sometimes mitigation blocks serve similar purposes to the levels in Advanced VSA, but the approaches differ. In ICT/SMC, trades are typically executed within the breaker or mitigation block, whereas in Advanced VSA, trades are found when a level is defended: buy trades above the level (supported by buyers), and sell trades below the level (supported by sellers).
Additionally, Advanced VSA allows for trading within ranges, moving from one boundary to the other, as long as the boundaries are defended.
Summary
Despite the shared terms and similar approaches, there are significant differences between the two concepts:
Number of forces influencing price movement: In ICT/SMC, it is believed that price is controlled by a single force, the Market Maker (MM). In contrast, Advanced VSA considers the interaction of two forces—buyers and sellers—as driving price movements.
Use of volume in analysis: ICT/SMC does not take traded volume into account during analysis, while in Advanced VSA, volume is a crucial element for identifying market forces and areas of interest.
Use of levels for trade entries: In ICT/SMC, levels do not play an important role, whereas in Advanced VSA, levels one of the possible places for identifying potential trade setups.
Good luck with your trading and investing!
[Daily Bias] Gold - Fri 09062024 - Dropping to the POCYesterday, the price experienced a significant rally and reached the naked Point of Control (POC), where it currently appears to be holding. We anticipate a potential retracement to test a key support zone below before making another move.
The price may decline if the previous POC holds.
Alternatively, the price could rise to test the previous Value Area High (VAH) before potentially dropping again
[Daily Bias] Gold - Thur 09052024 - Dropping to the POCCurrently, the price is at the Point of Control (POC) from Tuesday's declining session. If Wednesday's Value Area High (VAH) is able to hold, the price may drop further to test the Value Area Low (VAL), potentially leading to a significant decline towards the naked POC below