After hitting the bottom of the rising channel of the higher time frame, gold showed a good reaction and was able to move up about 200 pips.
I have now outlined the scenario I envision for gold on the chart.
If the gold 1-hour time frame candle closes below the number 2165, gold can go down to the targets, but if this range is maintained, gold can continue its upward trend.
I have now outlined the scenario I envision for gold on the chart.
If the gold 1-hour time frame candle closes below the number 2165, gold can go down to the targets, but if this range is maintained, gold can continue its upward trend.
Comment:
Because the 1-hour time frame candle closed below the number 2165.3, the above analysis was violated, and the trend of gold is still falling, and every rise gives us an opportunity to short with a stop loss of 2180.