Hello !
Gold is approaching the 1688 support zone, we expect a pullback to the 1775-1810 zone
Next plan:
- Waiting for price reaction at the 1688 price average support zone; Watch the signal to open a buy position according to the retracement wave, the expected retracement price zone 1775-1810
- In the medium term, the weekly wave still has to return to the 1530~1550 condition zone; After the retracement wave is completed, we look for the mid-term sell signal to the area of 1530~1550 (as attached image)
Good luck !
Gold is approaching the 1688 support zone, we expect a pullback to the 1775-1810 zone
Next plan:
- Waiting for price reaction at the 1688 price average support zone; Watch the signal to open a buy position according to the retracement wave, the expected retracement price zone 1775-1810
- In the medium term, the weekly wave still has to return to the 1530~1550 condition zone; After the retracement wave is completed, we look for the mid-term sell signal to the area of 1530~1550 (as attached image)
Good luck !
Comment:
Update Jul 1 2022
Comment:
Short-term:
- The H4 bearish structure has not been broken yet, potential price compression zone for short-term sell orders: 1700-1713, take profit: 1688 & 1650, stoploss: 1728
- The price has touched the average support area of weekly time frame 1688. Only start looking for buy positions when the price breaks through the price range ~1723 => This is a signal for a rally.
- The price hasn't broken through ~1723 I'm still watching mainly to open a sell position to be safer, this makes perfect sense when the price line is below all the average price indexes.
- The H4 bearish structure has not been broken yet, potential price compression zone for short-term sell orders: 1700-1713, take profit: 1688 & 1650, stoploss: 1728
- The price has touched the average support area of weekly time frame 1688. Only start looking for buy positions when the price breaks through the price range ~1723 => This is a signal for a rally.
- The price hasn't broken through ~1723 I'm still watching mainly to open a sell position to be safer, this makes perfect sense when the price line is below all the average price indexes.