Nick, a top trader with over 190k reputation points, analyzes the potential move for gold from a technical and commitment of traders perspective. The monthly and weekly time frames suggest bullish potential, while the daily time frame shows bearish structure. The commitment of traders data indicates institutions have not started buying yet. A potential longing opportunity could arise if the market breaks above resistance and institutions start buying. Valid entries for trading can be found using intraday monitoring and the rules of Nick’s strategies available in his mentorship program. The mentorship program is currently running a promotion with Blueberry Markets for a full refund. Smashing the like button and commenting supports the creation of more free education and analysis content.

Gold Price Analysis: Technical and Order Flow Perspectives

In this video from the Transparent Effects Academy, Nick – a top auditor and streamer with over 190k reputation points – analyzes the potential move in the gold market from both technical and order flow perspectives. He highlights the key elements that a trader should keep in mind while anticipating a potential move in the gold market.

Monthly Time Frame: Strong Monthly Demand and Support

Nick starts by analyzing the monthly time frame of the gold market. He observes that at the moment, the market is testing very strong monthly demand and support. He notes that the rejection to the upside had started from this level previously, and there is a possibility of this happening again. Nick concludes that everything seems quite bullish from a monthly perspective and after a small period of deceleration, he expects short-term rejection to the upside and some bullish price action to develop away from this area.

Weekly Time Frame: Over Extended M Pattern

Moving down to the weekly time frame, Nick observes that in approaching the strong monthly demand and support level, the market has printed an overextended M pattern. He highlights that after the creation of an overextended M pattern, it is expected that the market will provide a rejection to the upside, retracing at least to the 0.32 of the Fibonacci taken on the weekly impulse. Therefore, from a weekly perspective, Nick expects the market to provide a nice correction at least to this level, which is lining up around the area where the market is trading.

Daily Time Frame: Need for a Break Above Previous Daily Support

Nick then moves down to the daily time frame to pinpoint the potential move in the gold market. Here, he finds a couple of problems. He notes that the market is currently trading below the previous daily support, which is now turned resistance. He observes that the last structure level that the market had created was the previous daily support, which is now functioning as resistance. Therefore, Nick reckons that the market needs to provide a nice impulse breaking above this previous daily support turned resistance. Only then can we have good probabilities for a potential rejection to the upside, aligning with the monthly and weekly perspectives.

Commitment of Traders (COT) Data: No Confirmation of Accumulation

Nick looks at the COT data, specifically for gold, to check how the non-commercials (biggest speculators in the market) are behaving. He notes that with the last report, net positions have been dropping, indicating that there is no accumulation happening on the long side of gold from an institutional perspective. Nick observes that having this move to the upside is the minimum that is needed for the market to show that institutions have once again started buying. He concludes that more development is needed at the moment, and there is no confirmation yet. However, if the market manages to provide this impulse breaking above resistance and institutions add longs, that would be a very interesting scenario.

Trading Perspective: Valid Entries and Mentoring Program

Nick highlights the best time frames (monthly, weekly, and daily) for directional perspective and intraday time frames for confirmations and entries. He recommends monitoring price action from an intraday perspective during the move to the downside and waiting for the market to shift from an intraday bearish market to an intraday bullish market. If the market shifts and provides some valid entries, we can look for a potential rejection to the upside for the market to complete this impulse correction and impulse pattern to the upside.

Nick also mentions his mentorship program, where he teaches the rules of his strategies, offers one-on-one live trading mentoring, and provides access to his exact CO2 data software and trading station, among other tools. He highlights some testimonials from his students and offers a promotion where one can get a full refund directly in their trading account if they join the program and open an account with their partnered forex broker, Blueberry Markets.

Conclusion

The potential move in the gold market is analyzed from both technical and order flow perspectives. Nick highlights different time frames to pinpoint the potential move and offers some trading perspectives to approach the situation. Finally, he mentions his mentorship program, teaching the rules of his strategies and offering live trading mentoring and access to various trading tools.