Gold is Ready to Fall Again==>>Short-term!!!

٣ يناير

As I expected, Gold(XAUUSD) started to fall from Resistance zone($2,670-$2,653), Potential Reversal Zone(PRZ)[$2,666-$2,661] and 50_SMA(Daily).

Gold is moving near the Support zone($2,639-$2,630).

Educational Tip: Gold also fell in terms of Price Action with the help of a Bearish Quasimodo Pattern.

According to the theory of Elliott waves, gold seems to have completed the main wave C with the help of the Ending Expanding Diagonal at the Resistance zone($2,670-$2,653).

I expect Gold to break the Support zone($2,639-$2,630) and Support lines and fall again. Of course, the Long position around $2,634 can be attractive (for the short term).

Overall, in my opinion, the best Stop Loss(SL) for a Gold short position can be $2,656.

⚠️Note: If Gold breaks the Resistance line and touches $2,656, we should expect Gold to rise further.⚠️

🔔Be sure to follow the updated ideas.🔔

Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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٦ يناير

تم فتح الصفقة

Trade(Short) was activated after Gold touched Fibonacci levels.

٦ يناير

أغلقت الصفقة: تم الوصول للهدف

I closed my short positio.