There have been rejections at the price of 1815 several times (light blue line), and my projection for Gold will fall to touch the price of 1766-1767.
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
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Sorry very much in advance, I forgot this pattern to be calculated into my analysis. I have taken a short position with the same target, 1766-1767.
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Revision.
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“M” pattern has formed at the low time frame (15 minutes).
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Now the position of Gold is under the second barrier of the Supply Zone on the H1 time frame, and is also supported by the RSI indicator which is declining.
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It looks like it will continue to fall towards the Demand Zone on the H4 time frame, and is strengthened by the RSI indicator which is also experiencing a decline.
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I added some analysis.
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Gold is testing the second phase in the Supply Zone on the H4 Time Frame. And after this it can be assumed Gold will drop again.
Transakcja zakończona: osiągnięto poziom stop:
Stop loss has been hit.