XAUUSD/ Volume Profile Heatmap Analisis
The indicator called "Enhanced Volume Profile Heatmap" (EVPH) is a volume profile that shows the distribution of volumes at different price levels within a defined lookback period. It uses a heatmap to highlight areas of higher and lower volume activity, allowing for the identification of support and resistance zones based on the volume traded at each price level.
When properly set up, the indicator highlights green zones as areas with high liquidity. The green rectangle represents a zone I previously marked with the EVPH indicator on the daily timeframe, as it indicated significant liquidity. Based on this, I believe gold could potentially retrace to this level on the daily chart.
On the 1-hour timeframe, we see a green zone marked by the indicator that was initially respected, but later broken with a strong candle moving away from the green liquidity zone, indicating that sellers have taken control. Additionally, we are near a Fair Value Gap (FVG) on the 1-hour timeframe, which serves as a second confirmation. With this in mind, I plan to take a small trade aiming for a downward move toward the daily liquidity zone to capture potential profit from this setup.
Disclaimer: I am not a financial advisor. This is not financial advice, and any trading decisions should be made at your own risk. Always consult a professional before making any investment decisions.
When properly set up, the indicator highlights green zones as areas with high liquidity. The green rectangle represents a zone I previously marked with the EVPH indicator on the daily timeframe, as it indicated significant liquidity. Based on this, I believe gold could potentially retrace to this level on the daily chart.
On the 1-hour timeframe, we see a green zone marked by the indicator that was initially respected, but later broken with a strong candle moving away from the green liquidity zone, indicating that sellers have taken control. Additionally, we are near a Fair Value Gap (FVG) on the 1-hour timeframe, which serves as a second confirmation. With this in mind, I plan to take a small trade aiming for a downward move toward the daily liquidity zone to capture potential profit from this setup.
Disclaimer: I am not a financial advisor. This is not financial advice, and any trading decisions should be made at your own risk. Always consult a professional before making any investment decisions.
Note
It's a good moment to secure some profits and set the rest at breakeven
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