Short

💎 $GOLD : Will Gold Fall to 1642 ? Really ? (READ THE CAPTION)

Updated

By examining the gold chart in the daily time frame, we can see that the price, with the strong Break it made yesterday, was able to penetrate below $1884 and cause a Break in Market Structure (BMS) , due to this incident and the downward trend that has been going on for about 4 months. I give the probability that the price will prepare itself for heavier falls to fill a series of old liquidity voids ! In front of the price, there are different demand levels that can cause positive reactions and create demand in the short term! The first and most important downward target is the range of $1859 to $1841! The reaction to this zone, especially the $1841 level, will be spectacular! If the price can move below $1805 in the medium term and stabilize below this range, we will probably see more falls in the market and the Possible mid-term and long-term gold bearish targets will be $1787, $1748, $1709, and $1642, respectively! Share this important analysis with your friends! This analysis will be updated every day!

Best Regards , Arman Shaban

Trade active

Note

$1859 Reached ✅

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Well, as you can see, after the analysis last night, the price continued to fall again and was able to fall to our first target, which was $1859, And from the same range, it faced the pressure of demand and until now it has grown by 200 pips to $1879! Be careful, if the price closes above $1880, there is a possibility of a short corrective movement to the range of $1885 to $1903! Other assumptions and targets of the previous analysis are still valid!

Note

By examining gold in the daily time frame, we see that according to the Main Analysis , the price has been accompanied by a further fall and has managed to register more than 1100 pips of yield so far! Today, with the opening of the market, the price managed to hit the next target, i.e. $1841, and penetrate even below this level with a heavier fall and record the lowest price in the last 6 months ($1832), in today and tomorrow If the price stabilizes below $1840, we can give the possibility that the price will fall to $1818 and $1808 as the next short-term targets! Note that this week we will have the NFP statistics on Friday and the market will be waiting for these statistics, and if the Actual statistics are published more than the Forecast statistics, We will face an increase in the dollar index and a heavy fall in gold!

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Ready for more Fall ?

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Haha 👏 , $1818 Reached ✅

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According to yesterday's analysis, I expected the price to drop further, and today the price managed to drop to $1815 and hit the next target! After reaching this range, the price has been accompanied by a little demand and has been able to grow again up to $1828! We have to see today if the price stabilizes below $1827 and goes to hit the next targets or not! If today's candle closes bullish , we can give the possibility of an upward correction in the short term! Other assumptions of the previous analysis are still valid and if this fall continues, the next targets will be $1808, $1804, $1787, $1748, and $1709 respectively! If the daily candle closes above $1829 and the price stabilizes above $1827, there is a possibility that the price will grow to the range of $1841 to $1849 as the first target! I hope you will make the most of this analysis like the previous ones, thank you in advance for your constant support! Be sure to share this analysis to your friends!

Note

By examining gold in the daily time frame, we can see that yesterday the price failed to close above $1827 and create a bullish candle, But if the conditions of the previous analysis are met for the candle today, the assumptions of the previous analysis are still valid for the price! Read the last update again!

Note

As you can see, the price of $1827 has now become one of the most important resistance of gold , and as long as the price trades below this level, I will expect a further drop to $1808! In order to create demand, consolidation of the price above $1830 will be one of the most important conditions! My overall view on the chart is still bearish unless proven otherwise! The mid-term price targets are $1808, $1804, $1787, $1748, and $1709, respectively!

Note

If the price stabilizes above $1821.5, there is a possibility of moving towards higher targets, but note that based on the previous analysis, the range of $1830 to $1827 is still an important resistance in front of the price, And until this resistance is not broken, there will be no short-term Bullish move! Note that today we will have the NFP statistics and it will bring the market with extreme fluctuations, which if the Actual statistics are higher than the forecasted rate, will cause a heavy fall in gold, And if the Actual statistics are lower than the forecasted rate by a large difference , the price may be able to move to $1845 as its first upward target by breaking the resistance of $1830! Note that the price is still in the demand range and be careful of heavy price fluctuations and Liquidity collection!

Trade closed: target reached

By examining the gold chart in the daily time frame, we can see that based on our analysis, on Friday with the announcement of the NFP, the price attacked the level of $1810 to collect liquidity, and then it was accompanied by demand pressure (As we mentioned in the previous analysis, the price was in a demand range for several days) and with the war between Israel and Palestine, the market found its own excuse for further growth, And today, until this moment, it has managed to grow up to $1856 and hit its first upward target! As I said in the previous analysis, for the price to grow, gold must stabilize and close above $1830, which is exactly what happened on Friday!
The important demand zone is from $1812 to $1829 and the important supply zones are $1858, $1880 to $1889, and finally $1903!

ArmanShabanTrading

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