INTRODUCTION - This is the 02/03/24, 15-min bar, ultra-detailed daily binary, CONTINUOUS & EVOLVING FORECAST (changes as often as I can update) for direction and shape of price action in FX_IDC XAUUSD gold ticker. In my humble opinion, blue route should be the favorite from now to noon on Tuesday.
DETAILS - Link to #1 is in links section below. In that post, I stated my expectations for 2180 by 02/23. 2039 aftermarket close for Friday was not best possible close. Hence, while I stand by 2180 target, it is best to take price action one day at at time. Failure to close 2048 on Friday means:
1) first move should be retest of 2028-2030 area
2) orange hi-lights is what will happen if bulls cannot defend this channel
3) based on all trends combined, bulls are expected to defend this level
4) push to 2049 stall and eventually make 2055 by Monday NY open
5) NY session should see bears restest 2039 again
6) if bulls are 100% legit, they close NY near/at day's high around 2055
7) and push to 2073, 77, maybe even 80+ by Tuesday NY open
WARNING - This material is for experienced and responsible traders only. If you have any question in your mind whether you are experienced or responsible, then THIS IS NOT FOR YOU. As precaution, the first rule of trading is DO NOT lose money. As reminder, the second rule of trading is do not forget the first rule. As prerequisite, please familiarize with this process first before applying to your strategy. As usual, this MUST be used with continuing notes posted throughout duration of this forecast to supplement but NOT REPLACE your trading discipline and risk management. If the limits of the update feature or update frequency do not satisfy your risk profile, then THIS IS NOT FOR YOU. As always, when price action disagrees with forecast meaningfully to you, IMMEDIATELY SCRAP THE FORECAST and trade defensively. If it is not obvious to you what meaningfully means in this context, then I repeat for a third and final time, THIS IS NOT FOR YOU.