Short

🔥 XAU/USD - Gold Will Fall Again ? (READ THE CAPTION)

Updated

By checking the gold chart in the 4-hour time frame, we see that the price closed at $2024.360 on Friday! With the opening of the market, we may have an initial upward movement and then gold will start its next corrective movement! But be careful that it is better to wait until the opening of the New York market to determine the main trend, because probably in the London session we may see movements to create a new High or Low and then the price will change the trend! Currently, $2020 has become a very important support for gold and $2034 is also a very important resistance for gold! My main view is still bearish! The possible targets of this drop are 2020$, 2016$, 2002$ to 2007$, 1997$ and 1979$ to 1986$ respectively!

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Best Regards , Arman Shaban

Note

As you can see, according to my expectations, gold grew up to about $2027 at the beginning of the market and then fell! Currently, the price is trading in the range of $2022!

Note

$2020 Reached ✅

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$2016 Reached ✅

Note

By checking the gold chart in the 4-hour time frame, we can see that the price, as we expected, first grew up to $2027 to collect liquidity, and then started to fall, which managed to hit the target of $2020 and $2016, and even Corrected up to $2013! The efficiency of this analysis has been more than 140 pips so far and I hope you have made the most of it! The Main analysis is still valid! Be sure to monitor the ranges of 2002$ to 2007$, 1997$ and 1979$ to 1986$ and the possible price reaction to them in the medium term!

Trade closed manually

By examining gold in the 4-hour time frame, we can see that the price, after falling to $2012, came back with demand and is currently trading in the range of $2028! Today is a very important day because we will have the CPI statistics, which determines the inflation rate of the United States, and we will see many fluctuations and High volatility is expected! The supply ranges are $2031 to $2034 and $2042 to $2045 respectively!

ArmanShabanTrading

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