Blow-Off Top? Why I’m Selling Gold Rallies Again
In my analysis yesterday, I mentioned that Gold could be due for a correction and suggested selling rallies.
Unfortunately, my sell position from 2905 hit the stop loss, and Gold went on to reach a new all-time high.
However, this appears to be a blow-off top, which could signal the start of a real correction phase.
With this in mind, I will look to sell rallies again, targeting the 2885 confluence support level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Unfortunately, my sell position from 2905 hit the stop loss, and Gold went on to reach a new all-time high.
However, this appears to be a blow-off top, which could signal the start of a real correction phase.
With this in mind, I will look to sell rallies again, targeting the 2885 confluence support level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.