XAUUSD BUY AND SHORT POSSIBILITIES
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Hi guys, I'm back with this week first analysis. As always I'm gonna keep things simple.
So price did react to my sell zone on last Friday and started selling off, currently price is reacting to the broken resistance(1992) which has turned into support level. I have multiple demand levels, the immediate one is around 1982-1980 which I wait for price to reach there.
After that I would wait for a confirmation in lower time frame to take a long trade.
So price did react to my sell zone on last Friday and started selling off, currently price is reacting to the broken resistance(1992) which has turned into support level. I have multiple demand levels, the immediate one is around 1982-1980 which I wait for price to reach there.
After that I would wait for a confirmation in lower time frame to take a long trade.
Note
1992 support level has proven itself once againNote
1992 level has been supporting the price if sellers succeed in breaching the level i would expect price to reach my demand level at 1982-1980Note
price breached the 1992 level and is approaching our demand level.Note
Beautiful reaction to 1978 area. +40 pips in profitNote
+60 pips in profit you may risk free the positionNote
Price bounce back from inside demand levelNote
If selling off continues, next demand levels would be 64 and 53. make sure you watch for them.
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