XAUUSD short - UPDATE TP1 & TP2 hit - Supply Demand -Clean Chart

May 7, 2020

Hello Traders!

Great moves on Gold yesterday. The price went down to our Take Profit 2 Area. Check out my last analysis to see.

I still expect a deeper push on Gold before it will going up to the moon. I deleted all unecessary zones and marked some new. I always keep my charts clean in order to visualize the important things on the charts and not to focus on all the unimportant lines that we do not need for our trading decision.

So for Gold now we can see today a correction up to the h4 Supply Zone or only to the Resistance Line. For that we need simply to watch the market and to decide by Price Action Signals. But afterwards I expect a drop. So do not jump into longs in order to trade the correction. Just wait for an initial Price Action Signal and then jump into shorts. The other possibility is that price will drop down from here. Take Profit area is deep in the Demand Zone.


That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.

May 7, 2020

Note

Gold is very bullish right now.

Wait for h4 close and see if it rejects at the h4 supply Zone

If not then Gold will fly

May 7, 2020

Note

I will send update after the h4 candle close.

May 7, 2020

Note

May 7, 2020

Note

I see two possible scenarios from here.

The h4 candle closed below the Supply Zone. Therefore this zone is not valid.

Now this zone is a swap zone.

The Supply Zone were we are right now could drop the price but this one is not a high probability setup. This Supply Zone has too many touches.

A bullish scenario is always possible. Which I am expecting. But we will need to see how the market will close.

I will post tomorrow a new Analysis for Gold. So stay tuned.

May 8, 2020

Note

May 8, 2020

Note

Check out my new analysis for XAUUSD