Good Evening Forex Friends
In our morning analysis we were expecting a bounce from 1231-33 level , Price move lower around 1229 and bounce exactly according to our expectations and give a high at 1243.Our first target was 1251 that is still the same and expecting to meet today.Price could also move lower to test the support again.Please keep in mind this short term trade idea is valid untill price is above the invalidation point i have mention in the chart below.If gold move down and close below the support line, we will consider this trade idea invalidate.Please go through the chart below.
4 Hour Update Chart
For the reference of previous analysis i am also sharing previous 4 hour chart below
Previous 4 hour chart
Note : Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.
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Wish you good luck and happy trading
Mati Ur Rehman
Gold Analyst @ dailygoldanalysis.com