ArmanShabanTrading

⭐️ XAU/USD : More Fall Ahead ? (First Long, then SHORT)

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2370 to $2325! Subsequently, gold rebounded with demand and is currently trading in the range of $2340. It’s possible that after an upward movement, we might witness further decline in gold prices. Keep an eye on the price reaction in the range of $2350 to $2360! Additionally, all the levels mentioned in the previous analysis remain valid.

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Comment:
By checking the gold chart in the 2-hour time frame, we see that the price is moving towards the FVG range indicated on the chart ($2350 to $2360) as expected! With the price entering this range, we can expect more correction of gold! So be sure to keep an eye on this range today!

Trade active:
Comment:
By examining gold in the 2-hour time frame, we observe that the price started to grow exactly as expected until it filled its important FVG. However, after entering this range, we noticed that gold experienced a decline and managed to decrease by more than 180 pips to $2340! Currently, the price is trading around $2345 and is likely to follow a small upward movement before another decline. The potential targets for this decline are $2340, $2335, and $2325 !

Comment:
After reviewing the gold chart again, we observe that the price has started to rise after the last analysis. However, once it reached $2364, it faced selling pressure and is currently trading around $2349 with a decline of more than 140 pips. The previous analysis remains valid!

Comment:
By examining gold in the 2-hour time frame, we see that the price, after growing up to $2364, faced a heavy fall and finally managed to hit the target of $2340! Currently, gold is trading in the range of $2,345, and we may see a further drop in gold today!

Comment:
GOLD : $2335 Reached ✅

Comment:
By examining the gold chart on the 2-hour timeframe, we observe that after our last analysis today, the price first grew to $2346 and then experienced a significant drop to $2334. Overall, the return on this analysis has been over 290 pips so far. If the price can penetrate below $2330 and stabilize, we can expect a further decline to the next important level at $2310. The key demand zone is between $2277 and $2291 (Bullish Rejection Block). I hope this analysis is useful for you as well.

Comment:
By examining the gold chart on the 2-hour timeframe, we observe that the price, as expected, began to decline and hit the target of $2325. Ultimately, after collecting liquidity below $2325, it faced demand pressure again and is currently trading in the range of $2345! It is likely that we will first witness gold growth up to the range of $2350 to $2360, and then expect further decline from gold. Therefore, the main perspective remains bearish! The next targets are $2323, $2315, and $2303 in order.

Comment:
After re-examining gold on the 2-hour timeframe, we see that, as expected, the price grew up to $2351 (the critical supply zone of $2350 to $2360) and then began to decline from that area! The price has dropped to $2342, resulting in a total yield of over 450 pips from this analysis up to this moment! I hope you have found the most benefit from this analysis!

Comment:
Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2350 to $2337! Subsequently, gold rebounded with demand and is currently trading in the range of $2343. It’s possible that after an upward movement, we might witness further decline in gold prices. As for the Core PCE Price Index m/m, we should wait and see how this news affects the market. For now, I don’t have any specific opinion on gold, and it doesn’t seem particularly attractive for trading today!

Trade closed: target reached:
$2315 Reached , All done , Cheers everybuddy !

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