Short

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

Updated

By analyzing the gold chart on the 4-hour timeframe, we can see that the price is currently trading around $2496. If the price manages to hold above $2485, I expect it to rise first to the $2507 to $2518 range to fill the existing liquidity gap. After that, we can anticipate further declines in gold, with potential targets at $2484, $2472, and $2460.

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Trade active

reached $2507 ! ✔️

Trade closed manually

Last Position Reached It's Target on $2501 and New Position Activated Based on the Main Analysis :

By analyzing the gold chart on the 4-hour timeframe, we can see that after finally filling the FVG in the $2507 to $2518 range yesterday, gold faced selling pressure and corrected down by 170 pips to $2501! After reaching $2501, the price found demand again and managed to rise to $2529 today. This is the seventh time in the last 17 days that the price has entered this crucial zone, and once again, it dropped from $2529 to $2502!

Currently, gold is trading around $2505, and we may see further declines. The recent drop created a liquidity gap between $2512 and $2520, which I expect to be filled soon. Note that the resistance level at $2529 to $2532 has become very fragile, as the price has repeatedly reached and been rejected from this important zone. Therefore, I believe that in the mid-term, we can expect this resistance to be broken, leading to a potential rise in gold to $2550.

Trade closed: target reached

The Last Update :

By analyzing the gold chart on the 4-hour timeframe, we can see that, as expected, the price started to rise and filled the liquidity gap between the $2512 and $2520 levels. When the price reached the supply level at $2520, it faced selling pressure and corrected down to $2513! So far, this analysis has yielded over 220 pips in profit. If the price stabilizes below the $2520 area, we can expect further decline in gold. However, as I mentioned in the previous analysis, considering the weakening of this significant resistance level due to repeated tests over the past 18 days, I expect that after an initial price correction, we will soon see a breakout above the $2532 resistance, and I anticipate the price reaching $2550 in the medium term.

Note

Gold Price Surges to $2550!

In a stunning move, the price of gold (XAU/USD) has broken above the critical $2532 resistance level and has now reached an impressive $2550! This surge aligns with the expectations of 47% of our community, who anticipated this bullish breakout. Stay tuned for further updates as we analyze the potential implications of this significant price movement

Note

By analyzing the gold chart on the 4-hour timeframe, we can see that, as expected, the price finally broke through the $2532 level and made a strong move up to $2573! Currently, gold is trading around $2567, and unless you see a powerful reversal movement on the chart, don’t expect a significant drop in the price. Most of these moves are likely short-term corrections. To confirm a more substantial correction, it’s better to check the 1-hour timeframe and wait for the formation of reversal patterns. For a BUY position, the price is currently in the Premium zone, and we know that buying in this zone is much riskier than taking a SELL position without confirmation of a reversal. I hope this explanation is helpful, and stay tuned for the next gold update on lower timeframes soon!

ArmanShabanTrading

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