Gold Analysis – 10.Jan.2025
Gold Analysis: As observed on the 4-hour chart, gold performed exceptionally well yesterday, aligning with our expectations by reaching the $2679 level. This remarkable move added another impressive gain to our portfolio, with total returns exceeding 600 pips so far! When gold hit the $2679 mark yesterday, it experienced a sharp decline, as anticipated, since this was highlighted as a potential sell zone with a success rate of over 70%. The price dropped by more than 150 pips, reaching $2662 before encountering renewed buying pressure. Currently, gold has surged again and is trading around $2683. As we mentioned earlier, the $2679 – $2692 zone remains a critical supply area. With today’s Non-Farm Payroll (NFP) report, we are closely watching for a rejection and potential decline from this zone. Alternatively, we might see gold temporarily breach the $2693 level to gather liquidity before any significant reversal. I’m also actively scouting for another exciting trading setup in the 15-minute timeframe or lower, aiming to share it with you soon. If everything aligns, we may push our weekly returns to over 1000 pips!
(This Post on TradingView)
Author : Arman Shaban
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