🔥 XAU/USD - Gold goin DOWN below $1999 ? (READ THE CAPTION)
Updated
Well, as you can see, the price of gold, with its growth from $1974 to $2089, created a Big liquidity void in the range of $1997 to $2016 and another one in the range of $2031 to $2083, the second LV as in It was created in 4 days, it was filled in 4 days, and gold managed to fall to $2031 on January 2nd !
On Friday, with the announcement of the NFP statistics, gold temporarily fell to $2025, and then faced buying pressure again and was able to grow to $2063, which Of course, our first bullish target in the analysis that I shared was the price of $2056! After this growth, gold again experienced a drop from $2063 to $2045 and we saw that the weekly candle finally closed at $2045!
Now, if the price can be stabilized below $2056, we will probably see a further fall from gold to lower levels and Our First Bearish target will be in the range of $1997 to $2016 !
Please share your opinion about the possible trend of this chart with me and support us with your likes and comments.
Best Regards , Arman Shaban
On Friday, with the announcement of the NFP statistics, gold temporarily fell to $2025, and then faced buying pressure again and was able to grow to $2063, which Of course, our first bullish target in the analysis that I shared was the price of $2056! After this growth, gold again experienced a drop from $2063 to $2045 and we saw that the weekly candle finally closed at $2045!
Now, if the price can be stabilized below $2056, we will probably see a further fall from gold to lower levels and Our First Bearish target will be in the range of $1997 to $2016 !
Please share your opinion about the possible trend of this chart with me and support us with your likes and comments.
Best Regards , Arman Shaban
Note
By re-examining the gold chart, we see that the price, as I expected, fell with the beginning of the market and was able to correct from $2045 to $2026! The efficiency of this analysis has been around 190 pips and now that I am updating this chart for you, the price has reached a demand range in the 1-minute time frame, which is why it has been accompanied by an upward reaction! This reaction is probably temporary and soon we will see more fall of gold! Result : +190 Pips
Trade closed: target reached
The $2016 target has been reached ! ✅ 🙃I hope you enjoyed the analysis I presented to you last night! Pls Close Half of the Position !Trade closed manually
Last Update of this Idea (SHORT IDEA) : By re-examining the gold chart in the daily time frame, we can see that after the price dropped to $2016 yesterday, it was accompanied by demand pressure and has managed to grow up to $2038 so far! Probably this growth will continue until $2043 and then we can expect a reaction to this supply zone ! The main view is still bearish unless proven otherwise, in which case I will share my change of view with you! Still Keep in mind the range of $1997 to $2016! Let Me Know if you had any questions and thanks for sharing all your thoghts with me !
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