GOLD 05/11
OTE
Order Block (OB) Zone: The chart indicates a strong resistance level in the red-shaded area labeled "-OB" around 2,750. This zone signifies a potential reversal or strong selling point if the price reaches there, aligning with an Overbought Trigger Event (OTE).
OTE Zone: This Optimal Trade Entry (OTE) zone is marked in blue below the OB zone. It’s a significant level, usually associated with retracement and an ideal entry for short positions if price action confirms resistance.
Support Levels: The green lines around 2,727 and lower levels indicate multiple support areas. They suggest potential bounce points if the price declines, aligning with the Fibonacci
Order Block (OB) Zone: The chart indicates a strong resistance level in the red-shaded area labeled "-OB" around 2,750. This zone signifies a potential reversal or strong selling point if the price reaches there, aligning with an Overbought Trigger Event (OTE).
OTE Zone: This Optimal Trade Entry (OTE) zone is marked in blue below the OB zone. It’s a significant level, usually associated with retracement and an ideal entry for short positions if price action confirms resistance.
Support Levels: The green lines around 2,727 and lower levels indicate multiple support areas. They suggest potential bounce points if the price declines, aligning with the Fibonacci
Penafian
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