GOLD Where To Next Now 1700 Is Broken ? Likely Path For XAUUSD
We have finally got a WEEKLY close on GOLD under the 1700 level which was a huge support level at the bottom on the sideways DISTRUBUTION range we have been in since 2020 so were to next ?
As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the market to drop pretty quickly down towards 1630 then get a reaction there for retest of 1700 then a sell of again down towards the Monthly DEMAND/BUY zone at 1600.
How will I play this ?? Will look to BUY and SELL
I will look for my indicator to give me a BUY siganl at the Weekly DEMAND/BUY zone at 1630 on the Daily charts and will target 1700.
I will look to SELL the market on a Daily SELL signal at the 1700 area
For my analysis to be invalidated then the we would need to see a weekly close back above 1700 pretty quickly .
Hope you enjoying the idea
As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the market to drop pretty quickly down towards 1630 then get a reaction there for retest of 1700 then a sell of again down towards the Monthly DEMAND/BUY zone at 1600.
How will I play this ?? Will look to BUY and SELL
I will look for my indicator to give me a BUY siganl at the Weekly DEMAND/BUY zone at 1630 on the Daily charts and will target 1700.
I will look to SELL the market on a Daily SELL signal at the 1700 area
For my analysis to be invalidated then the we would need to see a weekly close back above 1700 pretty quickly .
Hope you enjoying the idea
Get Your FREE Copy of The Trader's Edge – Mental Strategies for Market Success! -thetradingedge.net/the-traders-edge
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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.
Get Your FREE Copy of The Trader's Edge – Mental Strategies for Market Success! -thetradingedge.net/the-traders-edge
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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.