By checking the Nasdaq index chart in the 4-hour time frame, we can see that the price started to move exactly as we expected and it grew with more than 330 pips of yield to the range of the previous supply zone! After entering the supply range of 18360 again, the price faced a heavy drop and corrected to the demand range of 17800 to 17970! Now the price is...
In this update we review the recent price action in the #Gold futures contract and identify the next high probability trading opportunity and price objectives to target
Reason For XAUUSD GOLD Sell
1. Stochastic Oversold in 1h Time and crosses over the 80 and make the assset to fall
2. RSI 14 below 50 and move in sell trend in 1H
3. Breake the Triangle Pattern
4. Retest the Day Low of 1630 technically
Possible Outcome;
GOLD SELL 1638.34
SL 1644.00
TP 1628.50
Weekly chart shows bearish engulfing and MACD divergence indicating pullback which already started.
Price is ranging for weeks however if H4 candle closes below 1332 and new H4 candle opens below that level, then I will Short until 1312.
If it breaks 1312 it will drop to 1294 and 1266 before it continues upward move to 1400+
If price pulls back and H4 candle...
