Daily HFT Trade Setup – Gold (XAU/USD) Rebounds at HFT Buying Pressure Zone
The analysis of high frequency trading algorithms today shows that gold is rebounding following this morning's reversal at the light HFT buying pressure zone today, located at $1748.93 and below.
An additional fact lending a hand in this situation is that gold was at oversold levels at the rebound. This is confirmed by the advanced FxTR overbought/oversold indicator (see chart below).
To the upside, bulls may look for targets toward the light HFT selling pressure zone is located today at $1770.41 and above, which is where the prior most recent highs also stand.
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