Gold Forecast (March 13, 2021): In The Plan

Remember: Money is earned from the moment we analyze, forecast and wait. Let's look back and prepare for the things to come.

Overall view: Week chart

The 1678 catch was prepared 1 week earlier: Convergence of the previous supply-demand zone + Bullish trend line of the gold price chart for over 2 years.


This BUY order is worth the bet. Either break even, or win a little... This could even be the bottom zone of 2021.

Do I have too much confidence? Maybe... But each one has their own view. Right or wrong will be answered by the profit. You make money - ok - you're right. You lose money - wrong – shut up - To be Continued.

3 gold price scenarios: Daily chart

Scenario 1: Return to the 173x - 174x zone and then fall again (Probability: 30%)

It is to fall back down, create a bottom, not collapse and "go far away". I expect the gold price to create a bottom in the 1740 - 1700 zone. Then it goes up again - 1 BUY cycle will appear continuously.


Scenario 2: A slight adjustment at 174x and then increase sharply to 176x (Probability: 50%)

This is the 1000-pip order I mentioned many times before. If the market follows this scenario, congratulations to all of us. We win completely!


Scenario 3: Fall back strongly to 168x (Probability: 20%)

This possibility is low. Simply because I’m placing BUY orders and wait for the chance to BUY more. So I leave the probability low for this scenario.


USDindex

DXY Forecast: Decrease to 91,000.


Subjective

Only trade when we have a winning zone and enter orders when the winning probability is high enough. This is what I repeat so many times in each of my posts.

This round is very standard. BUY when the price is below 1700 (Especially orders at the 1678). Take profit 2 times at the 171x and 173x zones. Hold the remaining 1/3 to observe the market and wait to BUY more.

We’ll continue in the next week!