XAUUSD Potential Forecast | Thursday 9 February 2023

9 févr. 2023

Hi everyone! My name is Chern Yu and I have lined up a potential short forecast on GOLD and anticipate bearish continuations.

Trade Idea
1. Given the consolidatory nature of price over the last few days, I believe that the bearish price action will soon overtake the bull and price can continue bearish
2. Price have already broken structure to the downside as shown by the structure breaks
3. I have marked out an important point of interest which is the demand zone that price can potentially tap into
4. There is a possibility price could come up to sweep liquidity before coming back down

I believe price can tap 1850 regions and will be eyeing GOLD very closely

Things to take note of:
- There is a supply zone above that I have marked out and do keep that at the back of your mind

Regards,
Chern Yu

10 févr. 2023

Note

price is moving along as planned and will be managing risk accordingly. Trade coming to fruition!