Buying Gold at the first order block can be risky
Gold keeps breaking highs and creating new one. However, it broke a major high around 2726.58, left a huge imbalance and an un-mitigated zone then broke another structure to the upside.
Many impatient buyers will enter on the first order block and will probably get taken out because clearly by looking at it from the daily timeframe, the order block around 2766.94 looks like a trap to trick the impatient traders.
We will wait for price to the liquidity and triger our order at 2706.85.
Many impatient buyers will enter on the first order block and will probably get taken out because clearly by looking at it from the daily timeframe, the order block around 2766.94 looks like a trap to trick the impatient traders.
We will wait for price to the liquidity and triger our order at 2706.85.
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