XAUUSD...Temp DT Curve Analysis
Updated
📈 Despite the overall positive outlook for gold, it seems that we are currently witnessing a temporary decline.
1️⃣ The initial level of support, where we may observe a rebound or stabilization, is approximately $2,439. This was also the previous ATH.
2️⃣ Following that, the next level of support is around $2,424.
3️⃣ Finally, the significant support level, where we anticipate a resurgence in prices, is approximately $2,405.
✍️ I expect the short to continue, and I won't consider an uptrend until we reach the demand level, which is also around $2,405.
⚠️ This is a HIGH-RISK, COUNTER-TREND trade ⚠️
1️⃣ The initial level of support, where we may observe a rebound or stabilization, is approximately $2,439. This was also the previous ATH.
2️⃣ Following that, the next level of support is around $2,424.
3️⃣ Finally, the significant support level, where we anticipate a resurgence in prices, is approximately $2,405.
✍️ I expect the short to continue, and I won't consider an uptrend until we reach the demand level, which is also around $2,405.
⚠️ This is a HIGH-RISK, COUNTER-TREND trade ⚠️
Trade active
XAUUSD...DT (30m)
✍️ Based on my analysis, I have identified a resistance level of $2,461 that is close to the current price.
📉 Additionally, there is a higher resistance level of $2,463 that is further away. Once price action reaches either of these levels, there is a high likelihood of price action continuing to decline.
➖I am considering a couple of areas of support, with the main one being at $2,439. Expect to see minor levels of support at $2,424, $2,392, and $2,368.
📈Our final target is a significant support level at $2,323. This support level is situated within the demand zone, suggesting that gold may soon resume its upward trend.
👍 I'll make sure to provide you with regular updates as I observe and analyze any developments.
Trade closed: target reached
💰 All 4 of our TPs triggered for a net win of +5,000 pipsTrade closed: target reached
As anticipated PA did continue the downtrend. I shaved @ TP4, and I'm still holding some short positions.
1️⃣ PA closed below 2386 on the 1H
2️⃣ Support should become Resistance @ 2393
3️⃣Next stop should be 2366
Professor C. E. Ward
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