XAU/USD : First Long, Then SHORT (READ THE CAPTION)

11 Jul

By analyzing the gold chart on the 4-hour timeframe, we observe that the price is currently trading around $2382. In a few minutes, we will have CPI statistics, and if these figures exceed the predicted rate, it could lead to a decline in gold prices or vice versa! Possible scenarios include the price initially breaking through the $2393 level for liquidity accumulation, even reaching $2404 to fill the old FVG , and then experiencing another decline. Alternatively, the price might start falling right from this current range. Pay attention to the important levels I’ve identified and be cautious during trading around the news!

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

11 Jul

Dagangan aktif

As we saw, the CPI statistics were released, and the actual figures were lower than the forecasted ones. This caused the gold price to start rising according to the first scenario, penetrating above $2393 to gather liquidity. Subsequently, it managed to fill its old FVG by rising to $2413. After that, gold faced selling pressure and corrected to $2396. As we observed, this strong upward movement created a significant FVG , which I expect to be filled by a short-term price decline. The other assumptions from the previous analysis remain valid.

11 Jul

Nota

Well guys, according to the new analysis of GOLD chart in the Daily Time Frame, the price has risen to the $2419 range and is now within an Daily Bearish Order Block (OB).

This Order Block area is between $2407 and $2450 and can act as a strong resistance zone (Supply Zone).If the price shows resistance in this range, it may move downwards again.

Given the strong price momentum, it’s advisable to be extra cautious when trading, look for strict entry criteria for new positions, or wait for market conditions to stabilize before making new trading decisions.

Happy Trading,
Arman