Gold Analysis (1H Timeframe):
On the 1-hour chart, Gold has previously formed a bearish engulfing candlestick pattern, which signaled a potential reversal and has since led to a downward move in the market. At present, another bearish engulfing pattern has formed, suggesting renewed selling pressure. If the price retraces back to this level, there is a high probability that it may continue to decline from there.
Below the current price, several demand zones have been marked. These zones correspond to areas where bullish engulfing patterns have previously formed or are likely to form. These zones have been carefully filtered for quality and relevance.
The recommended approach is to patiently wait for the price to enter these demand zones. If the market provides a valid bullish confirmation signal (such as bullish candlestick formations, divergence, or volume confirmation) within these zones, it could present a high-probability buying opportunity.
> ⚠️ Disclaimer: This analysis is for educational purposes only. Always conduct your own research (DYOR) before making any trading decisions. This is not financial advice.
On the 1-hour chart, Gold has previously formed a bearish engulfing candlestick pattern, which signaled a potential reversal and has since led to a downward move in the market. At present, another bearish engulfing pattern has formed, suggesting renewed selling pressure. If the price retraces back to this level, there is a high probability that it may continue to decline from there.
Below the current price, several demand zones have been marked. These zones correspond to areas where bullish engulfing patterns have previously formed or are likely to form. These zones have been carefully filtered for quality and relevance.
The recommended approach is to patiently wait for the price to enter these demand zones. If the market provides a valid bullish confirmation signal (such as bullish candlestick formations, divergence, or volume confirmation) within these zones, it could present a high-probability buying opportunity.
> ⚠️ Disclaimer: This analysis is for educational purposes only. Always conduct your own research (DYOR) before making any trading decisions. This is not financial advice.
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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.
Join My Telegram Channel For Getting Free Signals and Analysis 👇👇
t.me/fxinsighthub7
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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.