XAUUSD : Possible Correction !

[skrimon]

Well, guys, as you can see, gold doesn't have that necessary condition to drop and fill FVG, that's why I always say to use a higher time frame to confirm the reversal of the trend, now we see that the price has reached $1784 with a penetration. There is a minor modification and we have to see how it will react! Because as I specified on the chart, the range of $1784 to $1803 is one of the important supply zones! Currently, the price is in the Premium range and we will not look for BUY in this range!

Feel free to ask any questions you have, I'm here to help.

 

[Latham]

By nature, forex is decentralized and as mystery to many people. Due to Forex's decentralization, it's obligatory for a trader to use a broker.

 

[borzy]

View attachment 4810​

Well, guys, as you can see, gold doesn't have that necessary condition to drop and fill FVG, that's why I always say to use a higher time frame to confirm the reversal of the trend, now we see that the price has reached $1784 with a penetration. There is a minor modification and we have to see how it will react! Because as I specified on the chart, the range of $1784 to $1803 is one of the important supply zones! Currently, the price is in the Premium range and we will not look for BUY in this range!

Feel free to ask any questions you have, I'm here to help.

Thanks bro, what is FVG by the way? And also should we use volume or order flow information as well?