Gold Analysis for 08/17/2023:

Gold yesterday after advancing around 1899 bounced up around 1906 but finally tapered off in the middle of the night until dawn this morning until 1889, officially breaking through the support zones below as shown by the D1 timeframe (Although there is no confirmation of the larger frame, from what the market shows now, the probability is breaks were very high).

D1 closes 1 Engulfing down sharply, so we will follow the short-term trend of bearish to sell. Waiting for the market to test 1896 again, we enter an order with the target aimed at 1890 and 1885 respectively.

Command reference:

Sell 1896

SL 1902

TP1: 1890

TP2: 1885


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