Daily HFT Trade Setup – Gold Testing HFT Buying Zone
We are analyzing HFT algorithms' activity in the current day-trading session and note that gold (XAU/USD) has now reached the light HFT buying pressure zone that is located at $1815.64 and below.
The price has already reacted here at the HFT buying zone, and the hourly chart shows a notable bounce on the most recent candle. However, a more convincing bullish signal is yet to come here; perhaps gold will need to rebound further and stay above the $1815-$1820 levels in order to inspire more bullish momentum.
To the upside, local resistance exists around the day's highs at $1822. The light HFT selling pressure zone is located today at $1826.73 and above.
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