XAU/USD Weekly Forecast : First LONG, then SHORT! (READ CAPTION)
By examining the gold chart on the 4-hour timeframe, we can see that after dropping to $3270, the price faced strong buying pressure and opened today’s session with a 100-pip gap at $3298, continuing its rally up to $3370. This bullish move could potentially extend toward $3400, but keep in mind that gold is likely to retrace soon to fill this price gap — so this scenario should definitely be considered!
Trade closed manually
By examining the gold chart on the 4-hour timeframe, we can see that after rising to $3391, the price faced selling pressure and corrected down to $3332. Based on the previous analysis, gold has delivered over 800 pips in total so far. It is currently trading around $3352, and if it manages to hold above $3333, I expect a renewed bullish move. The potential upside targets are $3367, $3380, $3391, and $3400.
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Join us for more TA (Technical and Fundamental) :
⚜️ Free Telegram Channel : t.me/PriceAction_ICT
⚜️ JOIN THE VIP : t.me/PriceAction_ICT/5946
⚜️ Contact Me : t.me/ArmanShabanTrading
⚜️ Free Telegram Channel : t.me/PriceAction_ICT
⚜️ JOIN THE VIP : t.me/PriceAction_ICT/5946
⚜️ Contact Me : t.me/ArmanShabanTrading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.