GOLD Daily, H4, H1 Forecasts, Technical Analysis & Trading Ideas

Daily Timeframe:

GOLD has been rising rapidly recently but has almost stopped since February 11, when it hit its uptrend channel line.
With the RSI hitting resistance at 77 and showing signs of falling, there is a high probability that a corrective wave is about to begin.

Four-hour Timeframe:

A rising wedge pattern has formed in the price.
As long as the price does not break the resistance at 2955 and the red line of the rising wedge continues upwards, a downward wave is expected to begin.
A strong bearish divergence has also formed in the RSI.

One-hour Timeframe:

A head and shoulders pattern is forming.
If the price can break the neckline downward and the blue trend line of the rising wedge is also broken, the probability of a downward wave will be very high.

Trade active

Exactly as forecasted on Friday, gold hit a strong resistance at 2955 on Monday, and our short trades were opened there.

Today, the forecasted downtrend has begun, and so far, three of our trades have closed in profit on the H1, and one trade closed on the H4!

H1:
✅ TP1 Hit
✅ TP2 Hit
✅ TP3 Hit

H4:
✅ TP1 Hit

Navid_Jafarian

Just for One More Smile 😄

ForecastCity.com founder
✔️A.I. Data Scientist
✔️20+ years of experience
✔️Forex ✔️Cryptos ✔️Indices ✔️Commodity
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👉t.me/Jafarian_Navid
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Navid_Jafarian

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