XAU/USD : Get ready for a new ATH, Towards $3000?! (READ)
Gold's one-hour chart analysis confirms that the price has followed our previous forecast precisely, reaching the $2951 level as expected. Comparing the last five analyses highlights the accuracy of these projections.
Currently, after hitting $2951, gold is facing selling pressure and is trading around $2947. I anticipate a slight correction before another upward move.
Short-term targets: $2954 and $2956
Medium-term targets: $2966 and $2969
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
Currently, after hitting $2951, gold is facing selling pressure and is trading around $2947. I anticipate a slight correction before another upward move.
Short-term targets: $2954 and $2956
Medium-term targets: $2966 and $2969
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
Trade active
Gold's 1-hour chart confirms that, as expected, it successfully hit the $2954 and $2956 targets yesterday. After setting a new high and sweeping liquidity above the previous peak, gold faced a sharp decline, correcting over 300 pips down to $2925.
I expect further liquidity grabs, with potential moves below $2921 and even $2917 before a possible reaction. Key supply zones to watch are $2937-$2941 and $2946.5-$2954. Stay patient and observe the price reaction at these levels!
Trade closed: target reached
On the 1-hour timeframe, we can see that gold surged to the $2945 supply zone, where it faced strong selling pressure. The bearish momentum was so intense that it didn’t stop at the liquidity levels below $2921 and $2917, leading to a massive 500-pip drop to $2888. I hope you made the most of this analysis!
Currently, gold is trading around $2914, and the next three hours will be crucial in determining whether the decline continues. The key supply levels to watch are $2923, $2929, and $2933. This analysis will be updated accordingly! (Late Update)
Note
Upon analyzing the gold chart on the one-hour timeframe, we can see that the price has once again started to decline as expected, forming another attractive correction from the $2920 level down to $2876. Upon reaching $2876, buying pressure increased, pushing the price up to $2894. Currently, gold is trading around $2886. If the price stabilizes above $2876, we can anticipate further bullish movement.
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📣 Join My FREE Channel on TG for more TA 👉🏼 t.me/PriceAction_ICT
⚜️Join our VIP Channel : t.me/ArmanShabanTrading
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⚜️ My Contact : t.me/ArmanShabanTrading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.