By reviewing the #Gold chart on the 2-hour timeframe, we can see that today the price climbed to higher levels, reaching the $2525 range. Currently, there has been an initial reaction to this supply zone. The price is close to its historical high of $2531, and we need to see if it will stabilize below $2520 or above $2527 in the next 4 hours. Day traders will need more confirmation before taking a SELL position, while scalpers can look for suitable SELL triggers within the $2527 to $2532 range, managing risk carefully and taking quick profits. My medium-term outlook on gold remains bullish, and I expect to see the price reaching $2550 and $2600 soon.

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

((2+4+7+13+15+18+26+36+38+69+87+101+183+209+1000+1002+1000000000+1000000001+ 1000000853)^♾️*69) + 1 !
Note
By analyzing the #Gold chart on the 2-hour timeframe, we observe that, as expected, the price had an initial negative reaction to the identified supply zone, dropping from $2527 to $2503! The total return so far has been over 230 pips, and currently, gold is trading around the $2510 range. We now need to see if the price can break below $2500 again today or if we should expect a break above the previous high of $2532!

snapshot
Chart PatternsdowjonesDXYEURUSDForexforexsignalsGBPUSDGoldgoldsignalsTechnical IndicatorsTrend AnalysisXAUUSD

📣 Join My FREE Channel on TG for more TA 👉🏼 t.me/PriceAction_ICT

📈 The Best Crypto Exchange : promote.ourbit.com/a/ArmanShaban

⚜️ My Contact : t.me/ArmanShabanTrading
Also on:

Related publications

Disclaimer