Gold Forecast (March 5, 2021): 3 scenarios for gold price before

I give 3 scenarios like this. If they’re right, divides times to BUY. If they’re wrong, SL. Remember that it’s your money – think carefully before investing.

The whole market is like the picture below - The confluence of Supply-Demand and 3-year Uptrend.


DXY - the dollar is heading to the strong resistance zone of 92,000


When DXY returns to 92,000, there will be a decrease, which creates conditions for the gold price to approach the lower zone and rebound.

These are my forecasts. Now is the script to act.

Scenario 1 - 20%: Fall and Far gone

If the price collapses to 166x - 167x, it will bounce back surely.


Scenario 2 - 20%: Create a bottom with Sideways

Simply understand: Daily chart creates 2-5 small candles, moving sideways in this area => Create a bottom.


Scenario 3 - 60%: Rebound and increase sharply.

I expect this scenario with a TP of 1000 pips. Of course, if the gold price moves in this direction, we will have clearer TP points.


Conclusion

So, whatever, I also decided to open a BUY position in this zone. As for the BUY strategies, I have shared them many times.

Now, the story is to BUY at which price. That depends a lot on your patience. Tonight is Nonfarm. So most likely, good price zones will appear. Keep WAITING.

Finally, I repeat what I always says. Only trade when the winning rate is high enough for you to take risk with your money. For me, the high winning rate has already appeared. For you? I don’t care. HAHA!