GOLD 1H : Support further decline
Updated
GOLD
New forecast
The price of gold has been fluctuating sideways in the past sessions, stable around the moving average 50, waiting to stimulate the price to resume the negative trading expected in the immediate term, which aims to test the 1975 level initially and extend to 1962.
Therefore, the downward trend scenario will be remain expected for the coming period, keeping in mind that the 1993 breach will stop the expected decline and lead the price to attempt to restore the main upward trend again ,so it is possible to do a retest to 1993 and then drop again .
The expect range trading for today it will be between resistance line 1993 and support line 1962 until stabilized .
Additionally ,Today News will affect the market .
support line : 1975 , 1962
resistance line :1993 , 2006
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of gold has been fluctuating sideways in the past sessions, stable around the moving average 50, waiting to stimulate the price to resume the negative trading expected in the immediate term, which aims to test the 1975 level initially and extend to 1962.
Therefore, the downward trend scenario will be remain expected for the coming period, keeping in mind that the 1993 breach will stop the expected decline and lead the price to attempt to restore the main upward trend again ,so it is possible to do a retest to 1993 and then drop again .
The expect range trading for today it will be between resistance line 1993 and support line 1962 until stabilized .
Additionally ,Today News will affect the market .
support line : 1975 , 1962
resistance line :1993 , 2006
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed manually
GOLD UPDATE
The price perfectly fulfills my idea and hit profit about +50 pip
close it or if u want to hold put sl at entry
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