Volume profile showing more than average buying around the 1510 mark. It makes sense to say that if we were to lose the higher low pattern and break 1510, some longs would be forced to liquidate and sellers could get an opportunity.
This is simply an analysis I made using the volume profile indicator. There is a similar analysis to be made on TSLA stock, look at the buyers in the 430s (on the volume profile) and then look at what happened today when we broke 426.
Please share any insight to if you think this is a valid way of determining where certain pools of liquidity are in a market.
@Abid.uddin99, I don't see gold making a drop especially if broad market accelerates lower. The only thing I pointed out is the buy liquidity in the 1510 range. If Gold were to drop below 1510, it would put pressure on those longs to sell. These kinds of market psychological concepts are what I'm interested in.
CMF is a money flow indicator, it's basically an RSI with volume incorporated.