GOLD (XAUUSD): Detailed Structure Analysis ðĨ
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.
âĪïļPlease, support my work with like, thank you!âĪïļ
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.
âĪïļPlease, support my work with like, thank you!âĪïļ
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