XAUUSD-Gold - Possible Scenario for Coming Days
Updated
Gold is moving according to the plan and liquidating lot of accounts. Yesterday no one was expecting that waterfall in UK session specially. Anyway gold has broken all main supports in no time and right now its moving its mid term correction channel of 2040+ and may be it will be down again near 2048-2050. Gold has bear flag on Daily chart and H4 chart as well.
Right now it will move within range of 2015-2048 and if it will break 2015 then 1996 area will be crucial for upward or downward movement. For downward movement it should break 2000 area and for upward it should break 2060. But I hope it will move down and up time to time and it will be down first till 1930-1950 area. Last 4 days candles are showing the movement of the gold and last day candle was the confirmation of more downfall.
Anyway nothing is accurate and guaranteed in forex and specially in case of Gold. We can share our ideas which could be wrong and right. Gold and Oil are most manipulated so use your money accordingly. No need to take any risk.
Most Watchable areas:
2048-2060 for upward movement
2030-2015 for downward movement
Today there could be big movements after news of ADP Non-Farm Employment and Unemployment Claims
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Right now it will move within range of 2015-2048 and if it will break 2015 then 1996 area will be crucial for upward or downward movement. For downward movement it should break 2000 area and for upward it should break 2060. But I hope it will move down and up time to time and it will be down first till 1930-1950 area. Last 4 days candles are showing the movement of the gold and last day candle was the confirmation of more downfall.
Anyway nothing is accurate and guaranteed in forex and specially in case of Gold. We can share our ideas which could be wrong and right. Gold and Oil are most manipulated so use your money accordingly. No need to take any risk.
Most Watchable areas:
2048-2060 for upward movement
2030-2015 for downward movement
Today there could be big movements after news of ADP Non-Farm Employment and Unemployment Claims
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Note
Everything is going fine and gold is moving within its important range. Tomorrow will be big news of NFP, Unemployment Rate, ISM Services PMI and most important speech of FOMC Member Barkin. So tomorrow will be big movement in US session and till than it will move within its range of 2030-2050. Gold is still still bearish and just need to break its main support properly for further correction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.