Gold Analysis 03/02/2023:
– Everything was as Blackmantrader said, Gold after touching the important SUPPLY ZONE reacted more strongly than expected, the market fell 500 pips and closed the D1 candlestick at 1911.
– The D1 timeframe has closed 1: Engulfing is very clearly bearish right at the resistance => Gives a signal that the Market will continue to fall in the short term.
– Today we will wait for the market to bounce back and continue to sell at the resistance zone of the H4 timeframe when there is a signal of a downward reversal currently with the target target of 1903.
Sell 1922 (When there is a reversal signal)
WISH YOU 1 SUCCESSFUL TRADING DAY