Alan Solarsh breaks down gold's double doji formation as an accumulation zone, with the 100-period moving average approaching key resistance. He's watching for a breakout above that level or a retreat, while geopolitical shifts in Iran suggest a risk-off market ahead.
Morning everybody, hope you're well. Let's look at the chart. So yesterday I did tell you about this, the double doji over there, and usually that's either an accumulation or distribution zone. So apparently it's an accumulation zone. So we broke that supply zone over here and a new demand zone was created over there, and we've got this fair value gap over here. So now we're in another supply zone, and we just need to see what's happening. You can see there that there is resistance at that level, and we'll have to wait and see what happens. Let's go back to the chart and see what else I can see. So you can see the 100 moving average, the blue line, moving closer towards the price, and maybe we'll see the price either going up towards the 100 moving average, we'll get resistance and then it'll come down, or the price will then go up above the 100 moving average into the next supply zones over here. So the war is still on. We don't know what they're doing. We understand from Iranian news channels and credible sources that the regime has basically fallen and there's nobody really controlling anything. So a bit of chaos in Iran at the moment. So possibly the war is going to come to an end shortly because there's no leadership there. So now it's up to the Iranian people to take control and make this regime fall forever. So we'll just have to wait and see what happens there. For me, it's still risk off, and we're waiting to see what the institutions— supply zone over here, little 50% or a doji. We know that it will either be accumulation or distribution. So here is an, an area to watch. Cool, I hope you enjoy. I'll see you on my next videos. Cheers.
Double bottom forming - Gold ready for $4000 #trading #technicalanalysis #xauusd
