Gold Analysis – 23.Aug.2024
Gold Analysis: By reviewing the gold chart on the 2-hour timeframe, we can see that after our previous analysis, the price rose by about 50 pips and then faced selling pressure again upon reaching the $2510 zone. Following this, the price lost support at $2494 and dropped to $2471. Currently, gold is trading around $2484, and given the recent decline, a new liquidity gap has formed. I expect this Fair Value Gap (FVG) between $2486 and $2495 to be filled in the short term. Therefore, I anticipate a price increase to the specified zone, and once the price enters the $2494 to $2502 range, we can look for triggers to enter a SELL position.
(This Post on TradingView)
Author : Arman Shaban
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