Hello everyone,
GOLD 4H NEW FORECAST
Current Market Condition:
Price is around $2,944, testing a key resistance area.
Market is in consolidation with an unclear direction but approaching a breakout level.
Bullish Scenario (If Price Breaks Above $2,951 - Resistance Line)
1️⃣ If price breaks and holds above $2,951, we expect a move higher.
2️⃣ First target → $2,960
3️⃣ Further upside target → $2,970 (strong resistance zone).
🔹 Key confirmation: A 4-hour candle closing above $2,951 signals strength for further upside.
Bearish Scenario (If Price Reverses Below $2,935 - Support Line)
1️⃣ If price fails to break resistance ($2,951) and drops below $2,935, selling pressure increases.
2️⃣ First target → $2,924 (support level).
3️⃣ Further drop → $2,918 and possibly $2,900 (major support zone).
🔻 Key confirmation: A 4-hour candle closing below $2,935 confirms a potential downtrend.
Trading Plan Based on This Analysis:
Buy above $2,951 → Targeting $2,960 and $2,970.
Sell below $2,935 → Targeting $2,924 and $2,900.
Wait for 4-hour candle confirmation before entering a trade.
GOLD 4H NEW FORECAST
Current Market Condition:
Price is around $2,944, testing a key resistance area.
Market is in consolidation with an unclear direction but approaching a breakout level.
Bullish Scenario (If Price Breaks Above $2,951 - Resistance Line)
1️⃣ If price breaks and holds above $2,951, we expect a move higher.
2️⃣ First target → $2,960
3️⃣ Further upside target → $2,970 (strong resistance zone).
🔹 Key confirmation: A 4-hour candle closing above $2,951 signals strength for further upside.
Bearish Scenario (If Price Reverses Below $2,935 - Support Line)
1️⃣ If price fails to break resistance ($2,951) and drops below $2,935, selling pressure increases.
2️⃣ First target → $2,924 (support level).
3️⃣ Further drop → $2,918 and possibly $2,900 (major support zone).
🔻 Key confirmation: A 4-hour candle closing below $2,935 confirms a potential downtrend.
Trading Plan Based on This Analysis:
Buy above $2,951 → Targeting $2,960 and $2,970.
Sell below $2,935 → Targeting $2,924 and $2,900.
Wait for 4-hour candle confirmation before entering a trade.
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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.
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.