XAUUSD SHORT AND LONG SCENARIO
Updated
Hello Dear friends,
In this gold analysis I have multiple areas of supply and demand which I'm waiting for. Currently price is at the supply level which reacted this morning and i took 60 pips profit. As long as the current area is not breached, short opportunities exist. In my last analysis I drew a demand area around 1957 which yesterday reaction happened and price rallied up to 1971. Now same area could still prevent the selling off but you need confirmation if you are willing to take a buy there.
Just below 1957 area there is another demand area around 1940 so make sure you watch for it. In case price rallies up because later today Mr Jerome powell is giving a speech , I have a supply area around 1983.
As always make sure you add your logic into it prior to taking any trades.
Be honorable
In this gold analysis I have multiple areas of supply and demand which I'm waiting for. Currently price is at the supply level which reacted this morning and i took 60 pips profit. As long as the current area is not breached, short opportunities exist. In my last analysis I drew a demand area around 1957 which yesterday reaction happened and price rallied up to 1971. Now same area could still prevent the selling off but you need confirmation if you are willing to take a buy there.
Just below 1957 area there is another demand area around 1940 so make sure you watch for it. In case price rallies up because later today Mr Jerome powell is giving a speech , I have a supply area around 1983.
As always make sure you add your logic into it prior to taking any trades.
Be honorable
Note
Price is at lower time frame demand level 1964Note
market reacted to the 1959 order blockNote
after touching the order block moved to 1966. But is still below the supply levelNote
Price tested the 1957 demand level againNote
Price got reject inside the demand zone from 1951Note
Retesting 1951 levelNote
Gold is approaching 1940 demand levelNote
important news for usd coming in 45 minNote
seems like it price is coming back up so area 1962 to 1967 would be a sell side area to monitorNote
there was a perfect reaction to 1962 levelNote
Huge reaction to 1962 level led to 160 pips profits back to the 1947 level
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