Gold Spot / U.S. DollarUpdated GOLD NEXT MOVE (expecting mild correction) (20-08-2024)
Go through the analysis carefully, and do trade accordingly.
Anup 'BIAS for the day (20-08-2024)
Current price- 2526
"if Price stays below 2548, then next target is 2516 and 2505 and above that 2560.
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk more than 1% of principal to follow any position.
Support us by liking and sharing the post.
Anup 'BIAS for the day (20-08-2024)
Current price- 2526
"if Price stays below 2548, then next target is 2516 and 2505 and above that 2560.
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk more than 1% of principal to follow any position.
Support us by liking and sharing the post.
Trade active
BOTH BIAS TARGET DONE
Trade active
price exactly tap the price zone, I marked in the chart
both BIAS TARGET DONE
1ST BIAS TARGET DONE +100 PIPS PROFIT
2ND BIAS TARGET DONE +210 PROFIT
Trade active
GOLD SELL IS RUNNING +300 PIPS PROFIT (2532-2501)
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1st layer of potential support-
2499-2503 (mitigated)
2nd layer of potential support-
2478-2483 (strong support)
🚦 Until the price hold the 1st support and trade above 2500, then we may see bullish move targetting 2524 and 2532
Caution ⚠:
* Gold is struggling for direction
*So go with proper Risk management
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GOLD SELL IS RUNNING +330 PIPS PROFIT (2532-2498)
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gold is trading just above the support area and it is creating the range which indicates we may see a clear break-out on 1H & 4H TF, if we see break-out then there is higher chances price may approach to 2480 area.
best selling area 2520-2522
best buying area 2479-2483
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GOLD SELL IS RUNNING +600 PIPS IN PROFIT (2532-2472)
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Quick update-
Immediate support zone 2470-2475
Immediate resistance zone: 2492-2495
until the price is above 2470-2475, it may target to 2492-2495.
If price breaks this support, then next potential support 2450-2455
Trade active
As I commented (when price was at 2480),
price hit the resistance zone,
This move went in out favor +150 PIPS PROFIT (2480-2495)
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As I commented (when price was at 2480),
price hit the resistance zone,
This move went in out favor +150 PIPS PROFIT (2480-2495)
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GOLD BUY IS RUNNING +380 PIPS IN PROFIT (2480-2518)
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Quick update-
Immediate support zone 2495-2500
Immediate resistance zone: 2519-2522
until the price is above 2500 level, it may target to 2532 & 2550.
Advise-
from this range, it appears bulls may break the resistance zone easily.
Trade active
PRICE BREAKS THE RESISTANCE ZONE
BUY POSITION IS RUNNING +150 PIPS IN PROFIT (2510-2525)
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we booked PIPS in selling = 600 PIPS (as we mentioned in the analysis)
we booked PIPS in buying = 380 PIPS (as I updated upcoming move in comment)
we booked PIPS in buying = 150 PIPS (as I updated upcoming move in comment)
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Educational purposes only.
t.me/tradewithAnupZiddi
🟢CONTACT FOR LEARNING:
t.me/AnupZiddi
🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
Related publications
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.
🔵 FREE TELEGRAM CHANNEL:
t.me/tradewithAnupZiddi
🟢CONTACT FOR LEARNING:
t.me/AnupZiddi
🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
t.me/tradewithAnupZiddi
🟢CONTACT FOR LEARNING:
t.me/AnupZiddi
🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
Related publications
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.