Long

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

Updated

By analyzing the gold chart on the 15-minute timeframe, we can see that the price is currently trading around the $2665 level. I expect the price to continue its upward movement, maintaining the support at $2658 and targeting the liquidity above $2669 and $2671. We have two key supply zones: the first one is between $2671 and $2674, and the second, more significant zone, is between $2681 and $2685. The second level holds higher significance. Keep an eye on the price reaction to these two levels, and you can expect an average return ranging from 30 to 270 pips.

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By analyzing the gold chart on the 15-minute timeframe, we can see that, as expected, gold continued its upward movement and hit the targets at $2669 and $2671! This analysis remains valid, and we should now anticipate further growth towards the $2681 to $2685 range. This analysis will be updated accordingly!

Trade closed: target reached

By analyzing the gold chart on the 30-minute timeframe, we can see that the price followed the expected scenario. After hitting the targets at $2669 and $2671, it continued to rise and reached $2674 to grab the liquidity above that level before starting to drop. It precisely hit the target I marked on the chart at $2655! After that, we witnessed further correction in gold, and just an hour ago, gold dropped over 400 pips to $2634! Currently, gold is trading around $2638, and it is likely to see another correction after filling the liquidity gap between $2648 and $2650. The key demand zone for gold is between $2622 and $2627.

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