GOLD (XAUUSD): The Zone to Watch Next Week (Technical Analysis)

18 Eyl 2021

Hey traders,

This week was very bearish for Gold.
With a high momentum bearish candle, the price violated a key daily demand zone.

Now 1770 - 1787 structure cluster is turned into a supply zone and its occasional test may give us a great shorting opportunity.

Your plan for next week is the following:
1 - Let the price reach that zone first (we do not predict that it will, rather we apply the "IF" statement here)
2 - Look for a confirmation within that zone to short (by confirmation we mean a reversal pattern on 4h/1h time frames)
3 - Sell the market expecting a bearish move to 1729 next key support.

Good luck!

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20 Eyl 2021

Not

Check my new idea on USDCHF: