Gold Analysis 15/08/2023

Gold after falling to the 1907 zone had a PRICE REACTION as expected. However, when it bounced back to 1911.5, Gold reversed to 1902.5 to officially rise again, helping H4 23h close the long leg withdrawal candlestick => Showing strong buying force, but unfortunately only until 1913.

Similar to H4, D1 Gold also withdrew its closing leg in 1907 showing that the D1 frame Demand Zone was protected by buyers.

So what is today’s short-term trend for Gold??? Of course, there is an uptrend and we will continue to buy and wait for the market to return to around 1905 before entering an order.

For those of you who still hold the buy 1907 order yesterday, continue to hold the position.

Command reference:

Buy 1905
S.L. 1899
TP1: 1915
TP2: 1922


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