GOLD TRADING PROBABILITIES

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Hello friends I am sharing the commodity Gold futures daily chart for educational purpose for that as we can see after hitting a All Time High of 61371 currently is is trading near a good support zone of 59600 and current price is 59800 so what are the coming probabilities in This security according to me I am sharing below.

PROBABILITY ONE-:
That is can touch to it's support near about 59600 and will give a bounce back from there and will hit a high near about to it's All time high or more to give a breakout there for new All time high.

PROBABILITY TWO-:
That is could break support and will reach in to it's demand zone area where we can see on chart that accumulation was happened before the breakout and All time highs too and there we can see that a new trading zone will formed where 59600 will act as a strong resistance because price will trade below support.

Traders can use small time frame chart for early executions I am using daily chart for taking a view only

By this chart we can understand how trading zones are formed and what are the correct time to Close a trade in profit or loss and identify the re-entries or fresh entries for buy or sell both.

NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk

𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧

註釋

STILL SUPPORT NOT BREACHED AND BOUNCED FROM EXACLY MENTIONED SUPPORT FROM 59600 ZONES AND NOW 60200 AGAIN, NICE MOVE