By analyzing the gold chart on the 4-hour timeframe, we can see that yesterday, as expected, when the price dropped to around $3357, it faced strong buying pressure and rallied up to $3377. After that, it corrected again, pulling back to $3338 so far, and is currently trading around $3341. If gold manages to hold above $3337, we can expect another bullish move, with potential targets at $3347, $3354, $3364, and $3374.
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Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Trade closed: target reached
By analyzing the gold chart on the 4-hour timeframe, we can see that based on our latest analysis, after initially stabilizing above $3337, gold managed to climb to $3347, hitting the first target. However, the bullish move stopped there, and gold faced a sharp drop, eventually closing Friday at $3337. With the market opening today, we saw a negative price gap, opening at $3317, and after a brief dip to $3311, strong demand kicked in, pushing the price up to $3345 — a key demand zone that was already marked (blue area). Currently, gold is trading around $3324, and we need to see if, after a possible correction down to the $3309–$3311 range, it can find support again and begin another bullish move. This analysis will be updated soon!Note
By analyzing the gold chart on the 4-hour timeframe, we can see that based on recent price action, if gold fails to hold the key support at $3300, we can expect increased selling pressure and a potential drop toward the next strong demand zone at $3282–$3296.This area is considered a high-probability demand zone, where liquidity could be absorbed and a new bullish move may begin
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⚜️ Free Telegram Channel : t.me/PriceAction_ICT
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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.