FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Demand zone ahead, possible retracement, long opportunity.

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is
Trade active
Trade closed: target reached
HI Wok,

How you are identifying the fresh demand or supply Zone ? your reply is much helpful and appreciated.
Reply
@ssprab, It's areas with significant move that have not been tested before. I have wrote a bit about supply and demand in this two ideas:



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Dollar index failed big time on daily resistance level
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Gold is up but whats next .. it will break 13.66 ? with 1 or 2 attempts or A new big sideways Range channel will emerge !
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Tradewonk milkywaay
@milkywaay, Only time will show :)
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milkywaay Tradewonk
@Tradewonk, yes yes (:
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Tradewonk Gold is back & fun is up (:
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Tradewonk milkywaay
@milkywaay, Yup : )
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for the US stock market indices Massive Massive Downtrend Correction .. Gold will never Stop its exploding upwardly
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i like your way of analysis
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