Gold heads into the London session at 4,099.2. This is the map for the session: where it starts, the next level on the map in each direction, and how often breaks at this open have travelled that far.
THE SETUP
- Pre-market (the hour before the London open): 4,084.0 to 4,112.2, 28.2 wide - wide: over 133 % of its usual width (12.3 over the last 20 sessions).
- Opening range (first 15 minutes): 4,087.8 to 4,093.8. The middle, 4,090.8, is where the idea ends.
THE MAP
- If it breaks up: next on the map 4,109.0 (Fast wall, VWAP (day)), then 4,424.0 (Short liquidations $15M, Upper wall).
- If it breaks down: next on the map 4,084.5 (Lower wall, Flip), then 4,072.6 (Yesterday's POC, Yesterday's VAH).
- The idea is over on a 1-minute close back through the middle of the opening range.
WHERE PRICE STANDS
- Price is above yesterday's value area (VAH 4,072.0, VAL 4,058.2): it has left balance.
- Price is above the weekly open (4,057.2) and above the daily open (4,057.2).
- Daily trend: price below the 50-day (4,113.4) and below the 200-day (4,332.5) average.
- Over 24 hours price is +0.82 % and open interest -1.4 %: the move up is mostly shorts covering.
- Funding is +0.0 % a year across the market: normal.
- The 14-day average daily range is 67.79 (1.7 %).
- Within 2 %: under $0.1M of longs below and $0.48M of shorts above would be liquidated.
THE ORDER BOOK
- Largest resting sell orders above: 4,104.5 ($1.3M, +0.13 %); 4,166.2 ($974k, +1.64 %); 4,170.5 ($973k, +1.74 %).
- Largest resting buy orders below: 4,073.5 ($1.6M, -0.63 %); 4,040.0 ($874k, -1.44 %); 4,036.0 ($884k, -1.54 %).
- Resting orders can be pulled before price gets there; they show where size is waiting now, not where it will stay.
POSITIONING AND LIQUIDATIONS
- Within 1 % of price: $0k of long liquidations below and $0k of short liquidations above.
- Within 2 % of price: $42k of long liquidations below and $475k of short liquidations above.
- Within 5 % of price: $1.1M of long liquidations below and $747k of short liquidations above.
- Largest short-liquidation cluster: $15M at 4,422.5 (+7.9 %).
WHAT HAS HAPPENED BEFORE
- At the London open since 2025 with a wide pre-market, breaks of the first 15 minutes reached 1x the pre-market width beyond the range 12% of the time and 2x 9%.
- 87% of breaks closed back through the middle of the range before the session ended.
- Trading these breaks mechanically has not paid after costs in our three-year test, so read this as a map of where the session is likely to be decided, not as an entry.
SO FAR
- Broke up at 08:25 UTC, reached 0.2x the pre-market width.
HOW TO READ THE CHART
The teal and violet arrows run from the opening range to the next level on the map if price breaks up or down. The small boxes are the pre-market hour and the first 15 minutes; the dashed amber line is where the idea ends. Thick violet and teal bands are resting sell and buy orders with their size, pink bands are clusters of liquidation prices, and dotted amber lines are the options call and put walls.
A map for the session, not a trade signal. Not financial advice.
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