GOLD: Will the Red Zone Decide the Next Trend?

Aug 18

GOLD: Will the Red Zone Decide the Next Trend?

From a technical perspective, I am happy that a major correction has started, located between 4310 - 4450

Considering that gold has already reached the price of 4434, then there is a high probability that we are in the downward movement within the red box, which could lower the price to 4360 and 4310.

If the Gold moves above the red zone or above 4450, then the chances of starting the uptrend will increase further. This is what many traders also expect for the upward movement.

If the Gold moves below the red zone or below 4310, then the chances of starting the downtrend will increase, as shown in the chart.

However, it is very risky to trade gold considering that it did not react to the news that the US-Iran war may escalate further.

However, let's see if it will respect the technical analysis this time.

In my opinion, it was and remains manipulated and INSIDE TRADING started trading heavily the last two weeks. It was more visible on US indices (US500, US100, US30) which are extremely bullish for no reason, Gold, Silver etc.

You can find more details on the chart.
Thank you! 🍀

⚠️PS: Do your own analysis and use your own strategy to join the trade.
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Aug 18

Note

GOLD : Target_1 reached from the "Yellow scenario"

Aug 19

Trade active

Let's see if it breaks out of the red box.