XAUUSD (GOLD) Multi Time Frame analysis

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Well, as you can see, the price managed to increase up to about $1680 yesterday, exactly from the range of $1660 that was mentioned, that is, nearly 200 pips of growth! Again, from the same range of $1680, the price faced selling pressure and fell again to $1660! The price again reacted positively to this level and is currently trading with 50 pips of growth in the range of 1665! Now we have to see if this level of support and demand zone can cause the price to grow again or not! one of the important supply zones is in the range of $1676 to $1680!

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👤 Arman Shaban : @ArmanShabanTrading
📅 09.20.2022

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Trade closed: target reached:

as we can see that yesterday's price dropped exactly from the supply range that I had mentioned and dropped more than 200 pips! During this time, the price has shown the most reasonable actions! After the Federal Reserve announced an increase in the interest rate by 0.75 % , the sellers pulled the price below $1654 to exit the deal, and there, when the sellers closed the deal, buying pressure was created, and with this wave, many buyers entered the market and It managed to increase the price to ($1687 to $1690) ! After that, the price again faced selling pressure and fell again to $1655! Now the price is trading in the range of $1677! If this trend continues, the price can grow up to $1692! On the chart, pay special attention to the range of MB in the 4-hour time frame and its reaction to that level! I hope this analysis was useful for you as always!

as you can see the price decreased more than 130 pips after it reached too MB ! Always pay attention to these zones !! MB means Mitigation Block !
Well, by checking the gold chart in the 4-hour time frame, we see that according to the last point that was mentioned in the analysis, the price was accompanied by a negative reaction exactly from the MB (Mitigation Block) zone , and after that, even $1677 could not stop the price from falling further, and this It caused the price to fall sharply to the level of $1641! That means a total of nearly 400 pips drop! Just compare some recent analyzes to understand the accuracy of these analyses!


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