Short

⭐️ XAU/USD : More Fall Ahead ? (First Long, then SHORT)

Updated

Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2370 to $2325! Subsequently, gold rebounded with demand and is currently trading in the range of $2340. It’s possible that after an upward movement, we might witness further decline in gold prices. Keep an eye on the price reaction in the range of $2350 to $2360! Additionally, all the levels mentioned in the previous analysis remain valid.

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Note

By checking the gold chart in the 2-hour time frame, we see that the price is moving towards the FVG range indicated on the chart ($2350 to $2360) as expected! With the price entering this range, we can expect more correction of gold! So be sure to keep an eye on this range today!

Trade active

Note

By examining gold in the 2-hour time frame, we observe that the price started to grow exactly as expected until it filled its important FVG. However, after entering this range, we noticed that gold experienced a decline and managed to decrease by more than 180 pips to $2340! Currently, the price is trading around $2345 and is likely to follow a small upward movement before another decline. The potential targets for this decline are $2340, $2335, and $2325 !

Note

After reviewing the gold chart again, we observe that the price has started to rise after the last analysis. However, once it reached $2364, it faced selling pressure and is currently trading around $2349 with a decline of more than 140 pips. The previous analysis remains valid!

Note

By examining gold in the 2-hour time frame, we see that the price, after growing up to $2364, faced a heavy fall and finally managed to hit the target of $2340! Currently, gold is trading in the range of $2,345, and we may see a further drop in gold today!

Note

: $2335 Reached ✅

Note

By examining the gold chart on the 2-hour timeframe, we observe that after our last analysis today, the price first grew to $2346 and then experienced a significant drop to $2334. Overall, the return on this analysis has been over 290 pips so far. If the price can penetrate below $2330 and stabilize, we can expect a further decline to the next important level at $2310. The key demand zone is between $2277 and $2291 (Bullish Rejection Block). I hope this analysis is useful for you as well.

Note

By examining the gold chart on the 2-hour timeframe, we observe that the price, as expected, began to decline and hit the target of $2325. Ultimately, after collecting liquidity below $2325, it faced demand pressure again and is currently trading in the range of $2345! It is likely that we will first witness gold growth up to the range of $2350 to $2360, and then expect further decline from gold. Therefore, the main perspective remains bearish! The next targets are $2323, $2315, and $2303 in order.

Note

After re-examining gold on the 2-hour timeframe, we see that, as expected, the price grew up to $2351 (the critical supply zone of $2350 to $2360) and then began to decline from that area! The price has dropped to $2342, resulting in a total yield of over 450 pips from this analysis up to this moment! I hope you have found the most benefit from this analysis!

Note

Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2350 to $2337! Subsequently, gold rebounded with demand and is currently trading in the range of $2343. It’s possible that after an upward movement, we might witness further decline in gold prices. As for the Core PCE Price Index m/m, we should wait and see how this news affects the market. For now, I don’t have any specific opinion on gold, and it doesn’t seem particularly attractive for trading today!

Trade closed: target reached

$2315 Reached , All done , Cheers everybuddy !

ArmanShabanTrading

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