Gold Analysis 24/08/2023:

Gold sidewalked almost all day yesterday around 1900 and finally broke out of this supply zone all the way (the reason when the market breaks out will run sharply in that direction).

The market is also near the end of the month, Blackman will give 2 timeframes to show you more clearly the current market picture:

+ H4 timeframe: Gold after many retests around 1885 has appeared many candlesticks to withdraw and rise again. Then there is 1 H4 candlestick that retreats strongly when testing around this zone 1 again => Shows that the bulls have consolidated their position and have counterattacked again.

+ D1 timeframe: Although there were 2 days of weak gains before, D1 yesterday closed 1 extremely strong engulfing => Clearly shows the strength of the Bulls this time.

=> The probability of the gold market recovering in the last days of the month is quite high.

Today, we will be buying if the market rebounds around 1911 (Expect to come in the middle or end of the European session). Here the market will appear a reversal signal on the H1 timeframe, pushing Gold back up towards the Target 1925-1930.

Command reference:

Buy 1911

SL 1904

TP 1920

Sell 1925 – 1930 (divide the total normal volume into 3 small orders)

SL 1940

TP 1916


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