GOLD (XAUUSD): Detailed Structure Analysis 🥇
https://www.tradingview.com/x/R1zXHURq/
Yesterday's FOMC was bearish for Gold, and the market dropped sharply.
As I already discussed on the live stream, shorting Gold now looks very risky.
The thing is that the market is currently trading within a huge horizontal zone of demand.
The underlined blue are is based on a price action of February, March and July this year.
Be careful and keep tracking the falling wedge pattern.
Its bullish breakout will be most likely trigger a correctional movement.
Alternatively, a breakout of 1875 (lower boundary of a demand zone) and daily candle close below that, will confirm the violation of the demand zone.
❤️Please, support my work with like, thank you!❤️
Yesterday's FOMC was bearish for Gold, and the market dropped sharply.
As I already discussed on the live stream, shorting Gold now looks very risky.
The thing is that the market is currently trading within a huge horizontal zone of demand.
The underlined blue are is based on a price action of February, March and July this year.
Be careful and keep tracking the falling wedge pattern.
Its bullish breakout will be most likely trigger a correctional movement.
Alternatively, a breakout of 1875 (lower boundary of a demand zone) and daily candle close below that, will confirm the violation of the demand zone.
❤️Please, support my work with like, thank you!❤️
âś…Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
đź’°Instagram: instagram.com/VasilyTrader/ đź’°
âś…Facebook: facebook.com/VasilyTrading/ âś…
❗️YouTube Channel youtube.com/c/VasilyTrader
đź’°Instagram: instagram.com/VasilyTrader/ đź’°
âś…Facebook: facebook.com/VasilyTrading/ âś…
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.