By analyzing the gold chart on the 4-hour timeframe, we can see that after Jerome Powell’s speech on Friday, where he hinted at the possibility of upcoming interest rate cuts, gold experienced a strong bullish rally and surged up to $3379! Currently, gold is trading around $3373, and if the price manages to stabilize below $3379, we could expect a potential pullback towards lower levels to fill the FVG area.
However, if the price breaks above $3380, we may see further upside momentum, with the next bullish targets set at $3385 and $3398. This analysis will be updated soon depending on which scenario plays out, so stay tuned for the upcoming updates!
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However, if the price breaks above $3380, we may see further upside momentum, with the next bullish targets set at $3385 and $3398. This analysis will be updated soon depending on which scenario plays out, so stay tuned for the upcoming updates!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Trade active
By analyzing the gold chart on the 4-hour timeframe, we can see that the price initially followed our first scenario and, after stabilizing below $3379, we witnessed a strong drop to $3351, securing nearly 280 pips of profit. After hitting $3351, demand surged sharply, pushing the price up to $3386, successfully reaching our bullish target as well.Following that, gold retraced again down to $3367 and is currently trading around $3377. If the price manages to hold above the $3367 support level, we could see another bullish push toward the $3390+ area.
Key demand zones: $3349–$3357, $3338, $3321–$3330
Key supply zones: $3398, $3408, $3419
📌 Keep these levels noted and monitor price reactions carefully around them for potential setups.
Trade closed: target reached
By analyzing the gold chart on the 4-hour timeframe, we can see that, as expected, the price started a renewed bullish move after stabilizing above $3367 and managed to rally impressively up to $3394! Afterward, gold faced a pullback and is currently trading around $3383.However, it seems that gold doesn’t intend to drop further — at least for now — and we should wait for a potential move toward the $3400+ levels. This bullish scenario will fail if gold breaks below $3367 and confirms stability under this level, which could open the way for a quick drop toward $3350. For now, our bias remains bullish, with potential upside targets at $3393, $3398, $3404, and $3409.
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⚜️ Free Telegram Channel : t.me/PriceAction_ICT
⚜️ JOIN THE VIP : t.me/PriceAction_ICT/5946
⚜️ Contact Me : t.me/ArmanShabanTrading
⚜️ JOIN THE VIP : t.me/PriceAction_ICT/5946
⚜️ Contact Me : t.me/ArmanShabanTrading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.