The Gold price update for the coming weekend includes important
Gold is now in a bearish trend and will find sell positions for the long term, but the confirmations are most important. Gold is now very close to its Demand zone of 1905–1895, which marked the double bottom on July 6th, 2023.
Gold will give respect to their demand zone, and as per dollar analysis, the dollar will fall. In this case, gold will move some bullish.
The major levels were also marked on the chart with their possible rejections.
Buying zone 1906 to 1896 but if we will find some market structure changes indications like rejection in H1, M30 and Confirmations in M30, H1 also.
The major zones are:
1- 1918.90
2- 1924.88
3- 1931.31
4- 1947.88
You will open buy positions, and your take profit will be at these levels in the short term.
Selling zone was also the major zone marked above if market will give some indications.
The marked levels were also the resistance levels in the H4 time frame.
The possible trading setup is as follows:
Entry Point: 1906-1894
Stop Loss: 1890
Take Profit1: 1918
Take Profit2: 1931
The setup is valid if we can see some indications, a rejection candle at the support zone and a confirmation candle in H1 or M30.
Gold will give respect to their demand zone, and as per dollar analysis, the dollar will fall. In this case, gold will move some bullish.
The major levels were also marked on the chart with their possible rejections.
Buying zone 1906 to 1896 but if we will find some market structure changes indications like rejection in H1, M30 and Confirmations in M30, H1 also.
The major zones are:
1- 1918.90
2- 1924.88
3- 1931.31
4- 1947.88
You will open buy positions, and your take profit will be at these levels in the short term.
Selling zone was also the major zone marked above if market will give some indications.
The marked levels were also the resistance levels in the H4 time frame.
The possible trading setup is as follows:
Entry Point: 1906-1894
Stop Loss: 1890
Take Profit1: 1918
Take Profit2: 1931
The setup is valid if we can see some indications, a rejection candle at the support zone and a confirmation candle in H1 or M30.