It has been a while since I wrote an article on supply and demand zones in real time.
Currently I am seeing a potential setup and it is on Gold.
In today’s particular setup, I am seeing a potential chance for continuation of the existing long-term uptrend.
As you can see from the image above, there is a strong demand zone, which has been tested a few times. This time, price has formed a pin bar, which bodes well for buyers.
I will be looking for the open tomorrow and if all goes according to plan and get a confirmation from the 4H chart, I might go long.
My first hypothetical target will be 1310.
My second hypothetical target will be the highs at 1350.
This material is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results.
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