Gold Forecast 19-23 February 2024
In this article, i'm going to yo shear with you the weekly forecast of gold from February 19 to 23, 2024, where I indicate my expectations for gold prices during the next week.
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| Weekly Gold forecast |
In this article I will refer to:
- The result of last Friday's gold trading trade
- Weekly analysis of gold on the daily time frame
- Weekly analysis of gold on the daily time frame
- Weekly analysis of gold on the hourly time frame
1.The result of last Friday's gold trading trade
During last Friday, I entered into a selling trading trade on gold at the end of the Asian session, and I achieved a risk-reward ratio of more than 1:4 in the trade.
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| The result of last Friday's gold trading Trade |
2.Weekly analysis of gold on the daily time frame
In the daily timeframe, gold prices are moving near a strong demand zone around the level of 1985. Consequently, I anticipate that during the upcoming week from February 19th to 23rd, 2023, the upward trend will continue towards the supply zone at 2025.
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| Weekly gold forecast 19-23 February 2024 |
3.Weekly analysis of gold on the 4H time frame
In the four-hour timeframe, I expect the upward trend in gold prices against the US dollar to continue from the current price to the supply zone at 2025, as illustrated in the chart in the four-hour timeframe.
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| Weekly analysis of gold on the daily time frame |
4.Weekly analysis of gold on the hourly time frame
In the hourly timeframe, there is a price gap in the area of 2003, so I will buy gold from the price gap area after a correction downwards from the area of 2030, with a profit-taking order at the resistance area of 2025.
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| Weekly gold forecast 1H Time frame |
Buy limit: 2003
Stop loss: 1995
Take profit : 2025
Take Profit risk to reward : 1_3
Fore More Gold Daily forecast and analysis click here
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