Long

⭐️ XAU/USD : Ready for LONG ? (READ THE CAPTION)

Updated

Upon reviewing the gold chart in the 2-hour timeframe, we observe that the price, following last night’s analysis, has rallied once again, soaring to $2319! However, it wasn’t long before it encountered selling pressure and has corrected to $2307 as of this moment! As I mentioned in the previous analysis, the significant demand zone for gold lies between $2303 and $2291, and I anticipate that upon entering this level, the price will once again meet demand, potentially yielding a return of at least 100 pips to 350 pips from this range! The second crucial demand level is situated between $2268 and $2284.

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Note

Predict through in the comment section what you think the closing price of gold will be by the end of tonight!!

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It's Going up before it come to our specefied Demand Zone !

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just reached $2339 !

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By checking the gold chart in the 2-hour time frame, we can see that yesterday's price started growing earlier than we expected and was able to increase by more than 700 pips to $2379! Now gold is trading in the range of $2361 and we will probably see more price correction! The supply ranges are $2369 to $2379 and $2389 to $2402 respectively! Demand levels are $2335 (first target), $2329 and $2323 respectively! So first we will see an upward movement again and then the price will fall!

Note

As we identified in today’s gold analysis, the range from $2369 to $2379 was an important supply zone. I expected the price to first rise to this level and then experience a drop, which is exactly what happened! Gold initially rose to $2372 and then, under selling pressure, fell by more than 150 pips, correcting itself to $2356. I hope you have made the most of this analysis!

Note

By checking the gold chart in the 2-hour time frame, we can see that the price, after entering the range of our desired supply according to the analysis, was accompanied by a fall and finally closed on Friday at the price of $2360, and today with the opening of the gold market. It was accompanied by a further drop and corrected up to $2338! Now, I think the price will have an upward movement from this range (BUY) and then in the area of $2359 to $2364 we can wait for the Sell pressure (SELL)!

Trade closed: target reached

ArmanShabanTrading

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