By examining the gold chart on the 4-hour timeframe, we can see that after some consolidation between $3294 and $3302, the price finally began a sharp drop, correcting down to $3245. This area was a key demand zone on lower timeframes, which triggered a rebound, and gold is now trading around $3310. If the price gets rejected from the $3310–$3313 zone, we can expect another potential decline.
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Best Regards , Arman Shaban
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Best Regards , Arman Shaban
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By examining the gold chart on the 4-hour timeframe, we can see that after our previous analysis, the price entered the expected supply zone and dropped from $3330 to $3282, delivering over 500 pips of return. Key demand zones are at $3263 and $3223, while important supply zones are at $3305, $3318, and $3355. The main analysis remains valid, and I still expect further downside for gold.
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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
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⚜️ 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.