Gold Retests Broken Resistance – Is the PRZ Next?

21 May

As I expected in the previous IDEA, Gold(XAUUSD) managed to break the Resistance zone($3,280-$3,245) and touched the first target.

Gold appears to be completing a pullback to the Resistance zone($3,280-$3,245)[broken].

On my chart, the Resistance zone($3,280-$3,245) is currently labeled Support zone($3,280-$3,245).

I expect Gold to move towards the Potential Reversal Zone(PRZ)[$3,340-$3,365] and Resistance lines after the pullback is completed.

Note: If Gold touches $3,243[Worst Stop Loss(SL)], we should expect a drop.

Gold Analyze ( XAUUSD ), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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22 May

İşlem aktif

The long position did not hit my desired Support zone($3,280-$3,245) to activate, but the short position at Potential Reversal Zone(PRZ)[$3,340-$3,365] was activated for me.

23 May

İşlem kapandı: hedefe ulaştı

Targets Done

We had approximately 3 moves in this analysis.

Long-Short-Long