GOLD (XAUUSD): Detailed Structure Analysis 🥇
https://www.tradingview.com/x/R1zXHURq/
Yesterday's FOMC was bearish for Gold, and the market dropped sharply.
As I already discussed on the live stream, shorting Gold now looks very risky.
The thing is that the market is currently trading within a huge horizontal zone of demand.
The underlined blue are is based on a price action of February, March and July this year.
Be careful and keep tracking the falling wedge pattern.
Its bullish breakout will be most likely trigger a correctional movement.
Alternatively, a breakout of 1875 (lower boundary of a demand zone) and daily candle close below that, will confirm the violation of the demand zone.
❤️Please, support my work with like, thank you!❤️
Yesterday's FOMC was bearish for Gold, and the market dropped sharply.
As I already discussed on the live stream, shorting Gold now looks very risky.
The thing is that the market is currently trading within a huge horizontal zone of demand.
The underlined blue are is based on a price action of February, March and July this year.
Be careful and keep tracking the falling wedge pattern.
Its bullish breakout will be most likely trigger a correctional movement.
Alternatively, a breakout of 1875 (lower boundary of a demand zone) and daily candle close below that, will confirm the violation of the demand zone.
❤️Please, support my work with like, thank you!❤️
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