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Gold Trading Analysis 03.10.2021

Posted on Oct 3rd, 2021

by colibritrader

Dear traders,

Last time I walked you through a EU`RJPY trading analysis.

The pair went down to the demand zone as expected and then formed a tweezer bottom pattern and reversed direction.

That was a good place to go long.

Currently, the price is locked in-between a supply and demand zone and will take some time to figure out which way to go.

Currently, I do not have any open positions there.

Gold Trading Analysis 03.10.2021

I am currently looking at the `Gold daily chart.

There is a bullish engulfing pattern that formed on `Thursday.

It formed on a major demand zone.

I expect the price to go higher from here and I will be looking for a small retracement back to the 1750 area.

`Then, I will be looking for a candlestick formation on the 4H chart.

If such occurs, I will be looking to possibly go long.

If that does not happen, we are likely to see price coming back down to the demand zone and testing it one more time.

Happy trading,

Colibri “Trader

One thought on “Gold Trading Analysis 03.10.2021”

Lusapho says:

October 10, 2021 at 10:43 am

I want to be perfect in
Forex trading

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