GOLD|Weekly roadmap and important areas
Updated
Hello guys, I hope you are doing well
Let's review what happened last week
You can see the gold chart in 1 hour.
As we expected, the resistance zone prevented the growth of the gold price.
We have a support level, we have to wait for this level to be broken, if we had a close candle below this level, we can enter sell positions in reversals.
There is a possibility that the demand zone (2004-2008) will be tested again.
In general, selling pressure is more on gold.
Look for more sales positions.
Important areas are drawn on the chart.
Look for confirmation to enter trading positions by using candlestick patterns and trend breakouts.
I mentioned the types of candlestick patterns in the previous post, be sure to read them. In this way we work, smart money, candlestick patterns are one of the trading tools.
There is a lot of strong news in the coming week, starting from the FOMC, FEC speech, which will obviously discuss the further situation with inflation and interest rate, and NonFarm Payrolls on Friday. This period is expected to be quite volatile, but only in its second half.
Pic:1h time frame important areas
support level:(2014)-(2004-2008)-(1992-1998)
resistance level:(2023-2025)-(2031-2036)
Let's review what happened last week
You can see the gold chart in 1 hour.
As we expected, the resistance zone prevented the growth of the gold price.
We have a support level, we have to wait for this level to be broken, if we had a close candle below this level, we can enter sell positions in reversals.
There is a possibility that the demand zone (2004-2008) will be tested again.
In general, selling pressure is more on gold.
Look for more sales positions.
Important areas are drawn on the chart.
Look for confirmation to enter trading positions by using candlestick patterns and trend breakouts.
I mentioned the types of candlestick patterns in the previous post, be sure to read them. In this way we work, smart money, candlestick patterns are one of the trading tools.
There is a lot of strong news in the coming week, starting from the FOMC, FEC speech, which will obviously discuss the further situation with inflation and interest rate, and NonFarm Payrolls on Friday. This period is expected to be quite volatile, but only in its second half.
Pic:1h time frame important areas
support level:(2014)-(2004-2008)-(1992-1998)
resistance level:(2023-2025)-(2031-2036)
Trade active
When the price reaches the resistance zone (2023-2025), you can see that it prevented the growth of the gold price.
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