GOLD ANALYSIS 12TH NOV 2024
📉 Gold Market Outlook 📉
In recent moves, gold broke major support zones, trapping buyers at key demand levels. Currently, we’re seeing another major low broken on the 4-hour time frame, suggesting a potential shift towards a downtrend.
Strategic Approach:
Wait for Buyer Traps: With significant upside imbalances, we anticipate gold to lure in buyers at demand zones before retracing to fill these imbalances. This would present an ideal setup for shorting opportunities.
Potential Longs: For those looking to capture short-term momentum, watch for liquidity sweeps that trap buyers. Once minor highs break, consider long entries but keep risk in check—since the overall market remains bearish, prioritize taking profits quickly.
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In recent moves, gold broke major support zones, trapping buyers at key demand levels. Currently, we’re seeing another major low broken on the 4-hour time frame, suggesting a potential shift towards a downtrend.
Strategic Approach:
Wait for Buyer Traps: With significant upside imbalances, we anticipate gold to lure in buyers at demand zones before retracing to fill these imbalances. This would present an ideal setup for shorting opportunities.
Potential Longs: For those looking to capture short-term momentum, watch for liquidity sweeps that trap buyers. Once minor highs break, consider long entries but keep risk in check—since the overall market remains bearish, prioritize taking profits quickly.
📈 Stay Updated: Like, follow, and comment for more detailed trading insights and strategies!
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