XAUUSD: 1 Hour View, 2047-2017 price dropped, heading 2000?

XAUUSD today first day of the week after last week NFP data, Gold dropped nicely as we had identified in our yesterday's chart, price dropped successfully from 2047-2017 around a 300+ pips move. Now price did retrace from today's low to 2035$ where it rejected due to massive orders being there. There are two areas where Gold can now be heading towards 2010$ or 2000$ area. It is really hard to tell if Gold can really drop to 1980$ region as price can mitigate earlier at $2000 level.


Please use accurate risk management, always remember this, manage your own risk and do research by yourself too. Good Luck and Trade Safe.

If you have any further questions do not hesitate to ask in the comment ,or share what you all think.

Regards

액티브 트레이드:

Price went above our expected reversal area, and currently consolidating and ranging, still awaiting price to show large orders coming in the market.

Now there are two possible reversal areas where sell entries can be taken with accurate risk management.

we have clearly demonstrate in our chart here. Please have a look into it.