🔥 XAU/USD - More Fall Ahead ? (READ THE CAPTION)

By analyzing the gold in the 4-hour time frame, we can see that, as I said, I was monitoring the range of $2034 to $2042 for the SELL position and gold faced a strong growth to $2038 and by entering this supply range it faced heavy selling pressure. and is currently trading in the range of $2033 ! Note that this analysis in the 4-hour time frame is complementary to the previous analysis that was in the daily time frame! All the assumptions of the previous analysis are still valid (Make Sure to Read the previous analysis) ! I hope you have used the most of it!

The Previous Analysis Caption was : (Daily TF)

As you can see, yesterday the price of gold fell again until $2015 and after that it was able to grow up to about $2029! According to my opinion, gold is far from very attractive ranges for trading, and for the SELL position, the best ranges are between $2034 to $2042 and $2025 to $2056! Personally, I will not have a SELL position on gold until gold reaches those limits! For the BUY position, I am monitoring the ranges of $2002 to $2007, $1997 and $1979 to $1986! I hope this analysis is useful for you!

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

Comment:

As you can see, the price has been corrected after reaching the specified supply range, and in the last 4 candlesticks, we saw gold fall from $2038 to $2031! We have to see how the price will behave with the start of the New York session and then we can make a better decision to follow the next price trend! So the initial reaction was rejection from this supply zone !