By examining the gold chart on the 15-minute timeframe, we can see that the price is currently trading around $3122, and I expect the price to soon reach higher levels such as $3128, $3133, $3135, and $3143, and after reaching each of these important levels, we will probably see an initial negative reaction!
Ultimately, I expect a strong rejection from the price once gold reaches $3144!
The level of this analysis is very high, so make sure to study it carefully!
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Ultimately, I expect a strong rejection from the price once gold reaches $3144!
The level of this analysis is very high, so make sure to study it carefully!
Don’t forget to support this analysis!
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
Note
Think you can guess where Gold will close by the end of the week? 😎 comment your prediction!Trade active
By examining the gold chart on the 15-minute timeframe, we can see that, just as expected, the price started to rise according to the analysis and hit all four targets: $3128, $3133, $3135, and $3144, and after reaching this important level of $3144, we witnessed a strong drop from $3144 to $3114!Both scenarios played out exactly as analyzed (first long, then short), and the total return of the analysis after these two moves was over 500 pips!
Eventually, the price started rising again from $3114 and recorded a new high of $3167.6, and after reaching this new historic high, it dropped more than 1000 pips and corrected down to $3062!
Currently, gold is trading around $3072, and we have to see in the coming hours whether gold can stabilize below $3100 or not!
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Trade closed: target reached
By examining the gold chart on the 15-minute timeframe, we can see that after correcting down to $3053, the price was once again met with buying pressure and climbed back up to $3135, breaking above $3100.However, this upward move was not sustained, and after collecting the liquidity above $3135, the price dropped again and is currently trading around $3064.
If gold can break below $3053 and stabilize under that level, we will likely see further decline.
The next bearish targets are $3053, $3044, and $3033, respectively.
Hope this analysis, like all the others, has been helpful for you!
Have a great weekend 🫡
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Join me for more Free Signals and New Analyzes In the Public Channel :
⚜️ Free Telegram Channel : t.me/PriceAction_ICT
⚜️ Contact Me : t.me/ArmanShabanTrading
⚜️ Free Telegram Channel : t.me/PriceAction_ICT
⚜️ Contact Me : 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.