Gold next move (weekly forecast)(12-16 Aug-2024)
Updated
Go through the analysis carefully, and do trade accordingly.
Anup 'BIAS for the week (12-16 Aug-24)
Current price- 2428
"if Price stays above 2402, then next target is 2448 and 2470 and below that 2392.
Resistance- 2436-2437
Support- 2422-2425
"Weekly analysis is valid only if the price breaks support level (2422-2425) first."
-POSSIBILITY-1
if price breaks the support level first, then we may see the 1st move up to 2406-2400.
then if price doesn't fall below 2400, then we will definitely see the second move which will be from 2400-2406 to 2450.
-POSSIBILITY-2
if price breaks the resistance level first, then we may see the bulls attempting to clean upside liquidity. and this weekly analysis got invalid.
Best of luck
Never risk more than 1% of principal to follow any position.
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Anup 'BIAS for the week (12-16 Aug-24)
Current price- 2428
"if Price stays above 2402, then next target is 2448 and 2470 and below that 2392.
Resistance- 2436-2437
Support- 2422-2425
"Weekly analysis is valid only if the price breaks support level (2422-2425) first."
-POSSIBILITY-1
if price breaks the support level first, then we may see the 1st move up to 2406-2400.
then if price doesn't fall below 2400, then we will definitely see the second move which will be from 2400-2406 to 2450.
-POSSIBILITY-2
if price breaks the resistance level first, then we may see the bulls attempting to clean upside liquidity. and this weekly analysis got invalid.
Best of luck
Never risk more than 1% of principal to follow any position.
Support us by liking and sharing the post.
Note
IMMEDIATE SUPPORT- 2422-2425
IMMEIDATE RESISTANCE- 2437-2438.
BREAK-OUT OF SUPPORT, IF, FIRST.
THEN TARGET WILL BE 2408-2410
BREA-OUT OF RESISTANCE, IF FIRST
THEN TARGET WILL BE 2445-2450
Trade active
price first break the the resistance(2437-2438) as quoted in the comment.
and Price hit the target 2450
Trade active
BOTH BIAS TARGET HIT
1ST TARGET +200 PIPS PROFIT DONE
Trade active
we only booked 50% profit here, we are still holding our 50% trade and waiting for the price to hit 2485Trade active
IMMEDIATE SUPPORT- 2448-2452
IMMEIDATE RESISTANCE- 2475-80.
Break-our of support, if first,
then next target will be 2440 followed by 2432
Break-out of resistance,
then next target will be 2483, followed by 2490
Trade active
Gold Market Update:
If Gold prices trade above $2448-2452, then its Bullish trend will be intact.....
If gold holds this zone, then we may see next significant targets at $2,477, $2,483, and $2,490.
Trade active
This is the 3rd bullish wave (as per EWT) after correcting bullish move, so we can expect today gold may break all time high and set a new high. the trend line 2476,2477,2483 is now liquidity, and bulls may try to clean this liquidity today only.Trade active
As suggested in the previous comment.
Gold hit significant target 2477 completely
Trade active
GOLD buy is running +510 PIPS IN PROFIT (2428-2479)
we secured huge profit in this trade.
we have closed this trade already as updated
Trade active
IMMEDIATE SUPPORT- 2450-2454
IMMEIDATE RESISTANCE- 2460-2465
Break-our of support, if first,
then next target will be 2440 followed by 2432
Break-out of resistance,
then next target will be 2475 followed by 2485
Trade active
resistance has been broken by the price.
and price hit 1st target +100 PIPS PROFIT (2465-2475)
Trade active
price hit 2nd target +200 PIPS PROFIT (2465-2485)Trade active
Weekly GOLD buy is running +800 PIPS IN PROFIT (2428-2505)
we secured huge profit in this trade.
Our runner is running🏃💨💨🏃💨💨
Trade active
POTENIAL RESISTANCE- 2520-2525
POTENTIAL SUPPORT- 2477-2483
SWING RANGE IF SUPPORT BROEKN 2460-2465
Trade active
until the price is above 2460, the bullish trend is intact.
so it is recommended, those who are long in gold, they can book decent profit here.
and wait for the price to reach either resistance or support.
Trade closed: target reached
target reached
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t.me/tradewithAnupZiddi
🟢CONTACT FOR LEARNING:
t.me/AnupZiddi
🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
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