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

Updated

By analyzing the #GOLD chart on the 2-hour timeframe, we observe that the price, as expected, managed to grow again to the supply zone of $2360. Afterward, it experienced a significant decline, hitting all the previously announced targets. The lowest level at which the price corrected was $2315. Once it entered this demand zone, it faced buying pressure and was able to rise to $2332. It’s possible that the price could reach $2342 to fill its new FVG and then experience another decline in gold.

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By analyzing the #GOLD chart on the 2-hour timeframe, we observe that the price, as expected, managed to grow by 100 pips and reached $2342. However, it then faced selling pressure and is currently trading in the range of $2336. The overall performance of this analysis has yielded more than 180 pips so far! I hope you’ve made the most of this analysis!

Note

By analyzing the gold chart on the 2-hour timeframe, we observe that yesterday, after reaching the $2342 range, the price declined and managed to correct to $2335. Subsequently, when it moved towards the Bearish Order Block for further liquidity accumulation ($2342 to $2356), it experienced a more significant drop and is currently trading around $2329. After an initial positive reaction in this range, we might witness further declines in gold. Therefore, we refrain from making further predictions based on the chart and proceed step by step with the price.

Note

By checking the #gold chart in the 2-hour time frame, we can see that today's price reached the supply range of $2375 and after that it was accompanied by a drop, currently gold is trading in the range of $2358 And if the support zone of $2354 to $2357 is lost, we may see a further drop from gold, otherwise gold may grow to $2379 to fill its old FVG!

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