XAU/USD : Another Fall Ahead ? (READ THE CAPTION)
Updated
By analyzing the #Gold chart on the 4-hour timeframe, we can see that after last night’s analysis, gold rose again to $2497 before experiencing a sharp decline down to $2471. After reaching this critical level, the price didn’t penetrate the liquidity pool below $2471 and instead rebounded to $2491 to fill the liquidity gap caused by the previous drop. As you can see on the chart, the initial reaction to this level has been negative, and we need to see if gold can stabilize below $2491 with the upcoming market news. If it does, we can expect further declines towards lower targets. The potential targets are $2481, $2471.7, and $2460.5, respectively.
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Best Regards , Arman Shaban
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 closed manually
By analyzing the #Gold chart on the 4-hour timeframe, we can see that after last night’s analysis, gold rose again to $2497 before experiencing a sharp decline down to $2471. After reaching this critical level, the price didn’t penetrate the liquidity pool below $2471 and instead rebounded to $2491 to fill the liquidity gap caused by the previous drop. As you can see on the chart, the initial reaction to this level has been negative, and we need to see if gold can stabilize below $2491 with the upcoming market news. If it does, we can expect further declines towards lower targets. The potential targets are $2481, $2471.7, and $2460.5, respectively.
Note
It looks like there was a mix-up, and I accidentally pasted yesterday’s gold analysis again today! I’ll correct it right away and send you the updated analysis. Thanks for your understanding!Note
By analyzing the #Gold chart on the 4-hour timeframe, we can see that after yesterday's analysis, the price started to drop from the identified zone and almost hit our first target with a decline to $2482! After this drop, gold experienced another rise, and as I had anticipated for the past two days, it finally filled the FVG (Fair Value Gap) between $2506 and $2515. Currently, gold is trading around $2519, and we need to see if it will be rejected from this level or not. This is the fifth time the price has reached this critical zone, and I believe there is a possibility of breaking this resistance. So, be cautious with your personal trades and wait for the market to stabilize!
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