GOLD NEXT MOVE (waiting for NFP report) (02-08-2024)

Updated

Go through the analysis carefully, and do trade accordingly.

Anup 'BIAS for the day (02-08-2024)
Current price- 2461
"if Price stays below 2478, then next target is 2451 and 2440 and above that 2484 .

-POSSIBILITY-1
Wait (as geopolitical situation are worsening )

-POSSIBILITY-2
Wait (as geopolitical situation are worsening)

Best of luck
Never risk more than 1% of principal to follow any position.
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Trade active

suggested selling area activates as displayed in the chart (2475-2480)
now selling is running +200 PIPS PROFIT,
CLOSE IT

Trade active

now selling is running +570 PIPS PROFIT,

Note

GOLD SELLING IS RUNNING +660 PIPS IN PROFIT (2477-2411)
CLOSE MAXIMUM

Note

Thoughts on Gold:
Yes,
As Friday prices cleaned the liquidity up to 2412, Now it the time for gold to break ATH and set new ATH.
detailed thoughts will be published soon

Trade active

after cleaning liquidity near up to 2412, today gold retested it.
Now it is recommended to trade buy side from the decent support zone

Trade active

As per Eliot wave
gold finished its third corrective wave (i.e. C wave)(setting a low 2353)
immediate after that,
Gold again started taking bullish move and it completes,
1st move to the upside (i.e. 1 wave) (from 2353 to 2403)
2nd move to the down side (i.e. 2 wave)(from 2403 to 2370)
3rd move to the upside (i.e. 3 wave)(from 2370 to 2477)
4th move to the downside (i.e. 4 wave)(from 2477 to 2411)
Now Gold is forming its 5th impulsive wave (i.e. 5 wave )(from 2411........)
we can see gold my definitely break the ATH while moving in this wave.
Gold Bulls are ready to break the ATH and set a new ATH near about 2490-2510.
only after that we may see a decent correction.

thank you
Anup

Trade active

GOLD SELLING IS RUNNING +930 PIPS IN PROFIT (2477-2384)
Close you full trade now

Trade active

gold sell is running +1110 PIPS IN PROFIT
WE HAVE CLOSED FULL SELL POSITION

Note

until the price is above 2380,
we will consider the trend as a Bullish trend,
the main hurdle is to cross 2420 area, once the prices crosses this area 2417-2420 area,
then we will see bulls attempting to break all time high.
thank you

Note

IMMEDIATE RESISTANCE NOW 2398-2401
IMMEDIATE SUPOPRT NOW 2386-2388

WATCH CAREFULLY FOR THE BREAK-OUT AND PLAN YOUR TRADE ACCORDINGLY

Trade active

Now the price is moving around 2430 area,
This full zone (2430-2438) will act as strong resistance.

If bulls manage to close above this area at least (4H, 1H time frame),
They we see bulls's ride again

Trade closed: target reached

TRADE ALREADY CLOSED +1110 PIPS IN PROFIT

AnupZiddi

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Not financial advice.
Educational purposes only.

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