XAUUSD long - Supply Demand - h4 - (EXPLAINED)

Hello Traders!

Time for an Update on Gold. Sorry for not updating the charts this week. I was not in the office the whole week. I am back and I will update all the pairs.

So what do we got on Gold. I marked some very interesting zones on Gold. For me it is clear that Gold will go up to 1760-1770 area. This huge drop on Gold was simply a correction now and I am expecting the price to go up again.

Fundamentals:
This possible move up also goes hand in hand with the fundamentals. Just think of the economic impact from the corona virus. This is a big point why the gold price is so high right now. People do not have trust in the economy right now. So they invest their money in Gold. We still got a lot of economical issues and this will take some time. During this whole time we can expect that gold will rise and rise.

What can we do?
Simply trading Gold from zone to zone. Wait for some nice Price Action confirmation and then jump into the trade. I would like to see the price going down to the h4 Demand Zone and to take some nice long trades there after a nice Price Action confirmation.
I marked this possible scenario on the charts


That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.