GOLD: Why Might GOLD Continue To Decline Further
GOLD: Why Might GOLD Continue To Decline Further
Based on our last two analyses, the price movements have confirmed our initial suspicions. During the first bullish attempt, Gold reached a new all-time high at $2946.80, but subsequently retraced back below the structure to $2918.46. The following day, Gold increased to $2954.80 before moving back below the structure to $2916.60.
For the time being, we had two clear false bullish breakouts.
Given the strong price reactions in that zone, the likelihood of Gold continuing its bearish movement up to $2880 is high.
However, selling gold remains very risky due to the strong bullish trend. The price could potentially make a new all-time high and break $2955 if significant market manipulation occurs again. Based on the current data, it seems that Gold has a higher probability of moving down this time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Based on our last two analyses, the price movements have confirmed our initial suspicions. During the first bullish attempt, Gold reached a new all-time high at $2946.80, but subsequently retraced back below the structure to $2918.46. The following day, Gold increased to $2954.80 before moving back below the structure to $2916.60.
For the time being, we had two clear false bullish breakouts.
Given the strong price reactions in that zone, the likelihood of Gold continuing its bearish movement up to $2880 is high.
However, selling gold remains very risky due to the strong bullish trend. The price could potentially make a new all-time high and break $2955 if significant market manipulation occurs again. Based on the current data, it seems that Gold has a higher probability of moving down this time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
Previous analysis:
Previous analysis:
Note
GOLD Updated:
You may watch the analysis for further details
Trade active
GOLD: As I explained in today's video analysis, the price had a chance to face strong resistance even near the top.
After gold reached 2956.2 and made another attempt to rise, it dropped to 2930.70
However, be careful as the pattern continues to develop further and anything can happen. So far we have reacted 3 times as we expected.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.