There have been rejections at the price of 1815 several times (light blue line), and my projection for Gold will fall to touch the price of 1766-1767.
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
Trade active:
Sorry very much in advance, I forgot this pattern to be calculated into my analysis. I have taken a short position with the same target, 1766-1767.
Trade active:
Revision.
Trade active:
“M” pattern has formed at the low time frame (15 minutes).
Trade active:
Now the position of Gold is under the second barrier of the Supply Zone on the H1 time frame, and is also supported by the RSI indicator which is declining.
Trade active:
It looks like it will continue to fall towards the Demand Zone on the H4 time frame, and is strengthened by the RSI indicator which is also experiencing a decline.
Trade active:
I added some analysis.
Trade active:
Gold is testing the second phase in the Supply Zone on the H4 Time Frame. And after this it can be assumed Gold will drop again.
Trade closed: stop reached:
Stop loss has been hit.