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Tuesday, August 24, 2021

GOLD BEARISH SCENARIO!

GOLD BEARISH SCENARIO!

GOLD / U.S. DOLLAR FX_IDC:XAUUSD

Gold has finally reached 1800 and this is a significant level right now. We're expecting to see what is the next move.
The main idea is to see what is price reaction in the resistance zone . Those are the levels slightly above 1800!
If we see a rejection of this level and price leaving a wicks inside of the zone, than that would be an entry signal.

A more secure way to get involved is to wait for price to break below previous lows.
If market breaks below 1773, than that would confirm a potential move down to 1700.
All selling ideas will be gone if price breaks above 1830!


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