GOLD Trading Scenario
Updated
Hi guys, I'm back with another gold analysis. Price yesterday surged from the 1954 demand area(in last analysis) all the way to 1976 which exist a supply zone. Currently price has been under the 1976 supply area and has tested it multiple times already.
If you pay a close attention there is a hidden demand area "1970-1968" which is only evident in lower time frame and price has already consumed that too. So should price fall it could test 1954 area for the second time but bear in mind since the first movement has not made a new high 1954 area becomes too risky to trade and needs confirmation.
Above that we have 1964 area as a intermediary demand level which again I need to consult the lower time frame should I take a trade there.
Be honorable
If you pay a close attention there is a hidden demand area "1970-1968" which is only evident in lower time frame and price has already consumed that too. So should price fall it could test 1954 area for the second time but bear in mind since the first movement has not made a new high 1954 area becomes too risky to trade and needs confirmation.
Above that we have 1964 area as a intermediary demand level which again I need to consult the lower time frame should I take a trade there.
Be honorable
Note
1976 supply zone has prevented price movementNote
Wow incredible reaction to 1964 demand areaNote
+140 Pips. AmazingNote
+200 pips incredible reaction
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