ACCURACY REVIEW OF NFP ANALYSIS DATED 04.08.2023

By Poonam MForex

ACCURACY REVIEW OF NFP ANALYSIS DATED 04.08.2023:

As projected in my analysis : XAUUSD Bearish Scenario: $1907/1888/1866/1836/1818?

If the bearish momentum extends, Spot Gold price might crash further towards $1907/1888/1866/1836 price trap zone with 1818/1777 as next stops, if Gold crash halts at 1888/1866 or 1836/1818 zones a reversal can be expected with a RT V 23.6 M15 M30 RT before/in next 15 trading days.

Buying zones projected in August 2023 analysis:  

ACCURACY REVIEW SUMMARY: August 2023 spot gold analysis by piyush ratnu

Projected Buying Zone: $1907/1888/1866/1836

S2 ZONE 1888 | DOWN TREND (Below $1907)  : 1888/1866/1836/1818 | BUY LIMITS

XAUUSD crashed post NFP DATA from $1935 till $1924 and recovered back to $1947 price zone on NFP data (04th August, 2023), and for a week it was trading sideways in price range from $1945 – $1910 till 14th August,2023. On 14.08.2023 XAUUSD witnessed bearish momentum and crashed towards the (buying)  price range of $1888 below $1907 and retraced back same day giving NAP/ Net exit in the buy entries at and below $1907/1888. In addition, XAUUSD crashed multiple times from $1907 till $1883 (August 2023 low) between  17th and 21st August,2023, before marching towards $1947 price zone.

A or V pattern Accuracy:

I had projected a V pattern on M15, M30, H1 and H4 TF chart in sequence in next 9 days (short term target) and 21 trading days (long term target). XAUUSD 04.08.2023 CMP $1935. I had suggested to BUY lows near PRSRLVL algo based Buying zone mentioned in my analysis.

Summary:

A downward price movement of $64/ 6400 pips ($1947 – $1883) and upward price movement of $66/6600 pips ($1883-1949) was observed in the month of August 2023. Buying LOWS in August 2023 once again proved a correct trading strategy, as witnessed and implemented in last 4 years too, V pattern was once again successfully traced in August 2023.

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Figure 1: Piyush Ratnu | Price movement witnessed in August 2023 | $1947-1883-1947 | V achieved

I always prefer to BUY lows at my BUY zones traced through the tools displayed in the images in case of price crash, and this strategy has given neat results so far since 2016. CMP $1939.

Read NFP Day Analysis dated 04.08.2023 here