possible drop based on this strategy
Updated
Gold had strong momentum upward pressure from new year.
and have been in bull trend since November 2022 with no
significant correction.
I believe price still has space to go up however a short term correction
is not out of interest.
based on my strategy the blue area and baseline around 1940$ would be
our judgment base , above the baseline is more bullish below the blue area is more bearish.
now if the price breaks and close below the local trend line has more chance for more drop.
although still the blue area could be tested one more time.
Enjoy the market
and have been in bull trend since November 2022 with no
significant correction.
I believe price still has space to go up however a short term correction
is not out of interest.
based on my strategy the blue area and baseline around 1940$ would be
our judgment base , above the baseline is more bullish below the blue area is more bearish.
now if the price breaks and close below the local trend line has more chance for more drop.
although still the blue area could be tested one more time.
Enjoy the market
Trade active
remember price on 4H didn't closed below the line and didn't confirm drop. so make sense to pull back upward. Note
I believe around 1940 market can reverse, however if the price closed above the baseline. in bull scenario our next resistant level targets are on this chart.Trade active
don't forget baseline is our key level to drop or rise.Trade closed: target reached
after closing below the baseline.
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