Short

🔥 XAU/USD - First Long , Then SHORT ! (READ THE CAPTION)

Updated

By checking the gold chart in the 4-hour time frame, we see that the price does not follow a particular trend in the last 2 days, and with the shadows we see on the chart, we come to the conclusion that we are facing a lot of uncertainty and the chart is not as clean as always! I think gold will experience an upward movement, but it will fall again! The scenario I want is marked on the chart!

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Best Regards , Arman Shaban

Trade active

Note

By re-examining the gold chart, we see that the price started falling from the range of 2027$ earlier than we expected and is currently trading in the range of 2017$! I will still expect the continuation of the fall in the next week, and we will probably see the fall of gold to levels below $2000 in the next week!

Note

• Gold prices rose on Monday due to Middle East tensions and China Evergrande crisis, but gains were limited by Fed expectations.

• Spot gold and U.S. gold futures were both up 0.7% at around $2,033 per ounce.

• The Fed is expected to keep rates unchanged at its Jan. 30-31 meeting, but Powell’s tone will be watched closely.

• U.S. inflation was below 3% for the third month in a row in December, which could lead to rate cuts in 2024.

• Lower interest rates make gold more attractive as a safe-haven asset.

- Source : Reuters
- Prepared by : Arman Shaban

Note

By examining the price of gold, we see that today, with the tensions in the Middle East, gold has finally grown to the range of our desired supply, and after reaching the level of $2032, it faced a heavy fall again, and we have to see if, based on the past analysis, we can finally see Fall more than gold or not! This analysis will be updated!

Trade closed: target reached

As you can see, gold faced a heavy fall after entering the Rejection Block, which is marked on the chart, and it is currently trading in the range of $2020 with a drop of more than 170 pips!

Close Half of your SELL Position !

ArmanShabanTrading

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