XAU/USD : Time For Some Correction ? (READ THE CAPTION)
Updated
By analyzing the #Gold chart on the 4-hour timeframe, we can see that the price continues to rise due to escalating tensions between Russia and Ukraine, as well as Hezbollah and Israel. The price has been extending its rally since yesterday and is currently trading around $2665. In my opinion, after such a significant rally, we can start expecting a minor correction in the price.
Be cautious, as gold's movements have been extremely volatile and risky these days. If you lack sufficient experience, you might end up losing your capital. Reduce your risk to a minimum, avoid trading through Market Execution, and preferably identify key levels in advance. Enter trades only when the price reaches those levels and triggers a suitable setup.
The key supply levels are $2670-$2673, $2682-$2699, $2704-$2711, and the key demand levels are $2654, $2642, $2636, $2616, $2610, $2567. (This analysis will be updated.)
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
Be cautious, as gold's movements have been extremely volatile and risky these days. If you lack sufficient experience, you might end up losing your capital. Reduce your risk to a minimum, avoid trading through Market Execution, and preferably identify key levels in advance. Enter trades only when the price reaches those levels and triggers a suitable setup.
The key supply levels are $2670-$2673, $2682-$2699, $2704-$2711, and the key demand levels are $2654, $2642, $2636, $2616, $2610, $2567. (This analysis will be updated.)
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
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This analysis is no longer valid.
Due to recent market developments and price action, the conditions outlined in this analysis have changed. Please disregard this analysis and stay tuned for an updated version soon. Thank you for your understanding!
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