It's time for GOLD to drop

13 Tem 2021There have been rejections at the price of 1815 several times (light blue line), and my projection for Gold will fall to touch the price of 1766-1767.

Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.

14 Tem 2021

İşlem aktif

Sorry very much in advance, I forgot this pattern to be calculated into my analysis. I have taken a short position with the same target, 1766-1767.

15 Tem 2021

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Revision.

16 Tem 2021

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“M” pattern has formed at the low time frame (15 minutes).

17 Tem 2021

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Now the position of Gold is under the second barrier of the Supply Zone on the H1 time frame, and is also supported by the RSI indicator which is declining.

19 Tem 2021

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It looks like it will continue to fall towards the Demand Zone on the H4 time frame, and is strengthened by the RSI indicator which is also experiencing a decline.

23 Tem 2021

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I added some analysis.

29 Tem 2021

İşlem aktif

Gold is testing the second phase in the Supply Zone on the H4 Time Frame. And after this it can be assumed Gold will drop again.

29 Tem 2021

İşlem kapandı: durdurma seviyesi

Stop loss has been hit.