Gold forecast looking for long.
In this analysis we are looking 1H timeframe.
Demand Zone: The highlighted rectangle around $2,647-$2,660 is a potential demand zone, indicating a key level where price has previously reversed or consolidated.
Bullish Bias: The price has broken above the demand zone, suggesting a shift in market structure, with a bullish continuation expected.
Price is likely to pull back into the demand zone for liquidity before continuing upward.
Two potential bullish scenarios are depicted, both projecting a move toward the $2,685 region.
Liquidity Grab: The pullback may target stop losses below recent lows, fueling the next move up.
Market Structure Shift: The breakout above the demand zone suggests a bullish market structure.
Target: The price may aim for the $2,685 resistance level, aligning with higher timeframe objectives.
Risk Management:
Stop-Loss: Below $2,640 to protect against invalidation of the bullish bias.
Take-Profit: Around $2,685 or higher, as indicated by the green area.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
Demand Zone: The highlighted rectangle around $2,647-$2,660 is a potential demand zone, indicating a key level where price has previously reversed or consolidated.
Bullish Bias: The price has broken above the demand zone, suggesting a shift in market structure, with a bullish continuation expected.
Price is likely to pull back into the demand zone for liquidity before continuing upward.
Two potential bullish scenarios are depicted, both projecting a move toward the $2,685 region.
Liquidity Grab: The pullback may target stop losses below recent lows, fueling the next move up.
Market Structure Shift: The breakout above the demand zone suggests a bullish market structure.
Target: The price may aim for the $2,685 resistance level, aligning with higher timeframe objectives.
Risk Management:
Stop-Loss: Below $2,640 to protect against invalidation of the bullish bias.
Take-Profit: Around $2,685 or higher, as indicated by the green area.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
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