GOLD 4H : Support further decline
Updated
GOLD
New forecast
Gold price trading stabilizes below the 2067 level, which keeps our bearish trend expectations valid for today, targeting the 2043 levels and then 2017 as the next main stations.
Therefore the downward scenario will be remain valid and effective during coming period , for reminder the moving average 50 start to support the price to decline , Consistency below 2067 is important to achieve these goals, as breaching it represents a positive factor that will push the price to try to return to the main upward path again.
The expect range trading for today it will be between resistance line 2067 and support line 2017 until stabilized .
support line : 2055 , 2043
resistance line : 2067 , 2089
Additionally ,Today News will affect on the market .
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
Gold price trading stabilizes below the 2067 level, which keeps our bearish trend expectations valid for today, targeting the 2043 levels and then 2017 as the next main stations.
Therefore the downward scenario will be remain valid and effective during coming period , for reminder the moving average 50 start to support the price to decline , Consistency below 2067 is important to achieve these goals, as breaching it represents a positive factor that will push the price to try to return to the main upward path again.
The expect range trading for today it will be between resistance line 2067 and support line 2017 until stabilized .
support line : 2055 , 2043
resistance line : 2067 , 2089
Additionally ,Today News will affect on the market .
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLD Update
The price perfectly fulfills my last idea and price reached to our first target + 100 pip and still running .
Close it or if you want to hold put SL at entry .
Note
GOLD
Update
The price perfectly fulfills my last idea and price reached to our first target +100 pip.
The price of gold ended yesterday’s trading below the 2067 level, reinforcing expectations of a continuation of the downward trend in the intraday term, which targets the 2017 level as the next negative station. After it reached our first target at the 2043 level and formed an upward correction to test the 2055 and 2067 areas.
Therefore the downward trend will remain expected for the coming period supported by moving average 50 that is continue to support the price to decline ,the downward scenario will postponed if the price rushes to breach the 2067 level and hold with above it.
The expect range trading for today it will be between resistance line 2067 and support line 2017 until stabilized .
support line : 2043 , 2017
resistance line : 2055 , 2067
Additionally ,Today News will affect on the market .
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Note
GOLD
Update
The price of gold hovers around the 2043 level and stabilizes below it, and the 50 moving average forms continuous negative pressure against the price, awaiting the resumption of the expected bearish wave in the immediate term, remembering that the next target is at 2017 level and by breaking this level will help the price to reach to 2007 and 1993 levels .
Therefore the downward scenario will be remain valid and effective during coming period ,taking into account that breaching 2067 will stop the proposed negative scenario and lead the price to restore the main upward trend again.
The expect range trading for today it will be between resistance line 2067 and support line 2017 until stabilized .
support line : 2043 , 2017
resistance line : 2055 , 2067
Additionally ,Today News will affect on the market .
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLD
Update
The price perfectly fulfills my last idea and price reached to our second targets +220 pip and still running .
Gold price trades rebounded downward after reaching the 2067 level in the past sessions, settling below the 50 moving average, which keeps the bearish trend scenario active in the immediate term, waiting to test the 2017 level as a first station, noting that breaking this level will extend the bearish corrective wave to reach... To 1993 and 1976 as next goals.
Therefore, we are awaiting further declines expected during the coming sessions, keeping in mind that failure to break through 2017 will halt the negative scenario and push the price to attempt to return to the upward correction path again.
The expect range trading for today it will be between resistance line 2067 and support line 2017 until stabilized .
support line : 2017 , 1993
resistance line : 2055 , 2067
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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.