Gold Forecast (March 18, 2021): Take Profit - BUY/SELL zone

18 มี.ค. 2021

At this round, we are right! Simply because: You and I both make money. I focasted to BUY under 1700 (especially at the 1678), Tp1: 171x (done), Tp2: 173x (done) and Tp3: 176x – Wait to TP. If our View is 1000 pips, then win about 600-800 pips is quite enough.

Ok! Now we go to work.

Next plan: BUY/SELL zone and upcoming predictions .... I watch the picture that I drew a week ago. This is the movement of gold price I expect for over a month. Meaning: the price successfully created a bottom at 1678 and went up (this is the expectation). However, we must see the reaction of the market to make a move.



4h Chart: Short-term prediction

The price goes in this way back to the 176x zone and adjusts (Probability: 60%).



With the confluence between the bearish Trendline and the previous supply-demand (level), there is a high possibility that Gold will have a bearish reaction. But the problem is: Is it enough to create a 200 - 400 pips fall for us to enter a SELL order?

Answer: should SELL. Honestly, in the overall market, Gold is in a downward channel. The SELL orders at the confluence and the trend all give a high win probability.

Forecast: SELL at the 176x zone



BUY zone: 172x (Probability: 40%)

The confluence between the short-term uptrend and the supply-demand zone that the market created in recent days.

For me, this BUY is an additional BUY. Let’s wait for Gold to break out of the downtrend.



DXY

USD - Still old forecast: Back to 91,000



Discussion

Nobody knows exactly whether Gold will return to 167x or fly straight back to 1800 or not. But if the price goes into the confluence zone, with a high enough probability of winning, then we can confidently enter the order.

Still the same old saying that I repeat many times. Money is earned from the moment we observe, analyze, predict and wait. And the story behind that is decided by the market.