In recent days, Gold has been relentlessly printing new highs, and this continued up until yesterday. However, today’s price action is showing the first signs of a possible correction.
Looking at the broader chart, the trend is still decisively bullish, meaning any counter-trend trades carry significant risk.
🔸 For sellers, a strong confirmation would only come if we see a 4H close below 3468 – that’s where a bearish outlook starts to make more sense.
🔸 If you’re still aiming for a counter-trend short, the 3540 – 3560 zone on the 1H timeframe could be considered, but only with strict risk management.
The potential downside target sits near 3473.
⚠️ Keep in mind: a 1H close above 3565 invalidates this setup.
Looking at the broader chart, the trend is still decisively bullish, meaning any counter-trend trades carry significant risk.
🔸 For sellers, a strong confirmation would only come if we see a 4H close below 3468 – that’s where a bearish outlook starts to make more sense.
🔸 If you’re still aiming for a counter-trend short, the 3540 – 3560 zone on the 1H timeframe could be considered, but only with strict risk management.
The potential downside target sits near 3473.
⚠️ Keep in mind: a 1H close above 3565 invalidates this setup.
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.
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.