XAUUSD: Short, target 2463-2452
Updated
https://www.tradingview.com/x/wmboajSb/
Gold is fluctuating within the 2508-2519 resistance range, and indicators are starting to show weakness. A pullback is expected next week, and a second test of the resistance near 2519 cannot be ruled out. From the overall trend perspective, I lean towards the likelihood that it won’t break through, leading to a significant drop. The first major support during the decline is around 2500, followed by 2488-2477, and finally around 2452.
If strong resistance is encountered near 2520 and it fails to break through, a double top pattern could form, making a drop to around 2452 highly likely. Therefore, in next week’s trading, focus on observing the resistance and prioritize short positions.
Gold is fluctuating within the 2508-2519 resistance range, and indicators are starting to show weakness. A pullback is expected next week, and a second test of the resistance near 2519 cannot be ruled out. From the overall trend perspective, I lean towards the likelihood that it won’t break through, leading to a significant drop. The first major support during the decline is around 2500, followed by 2488-2477, and finally around 2452.
If strong resistance is encountered near 2520 and it fails to break through, a double top pattern could form, making a drop to around 2452 highly likely. Therefore, in next week’s trading, focus on observing the resistance and prioritize short positions.
Trade active
Have a nice weekendTrade active
Have a great day, everyone! A new week has begun, let’s keep trading happily and increase our profits.Trade active
The price is still fluctuating within a high range and is about to face a directional choice. Long positions carry slightly higher risk than short positions.Trade active
morningTrade active
The resistance area has been reached. Watch for a breakthrough. If it fails to break through, it indicates the formation of a double top pattern and the price will inevitably fall sharply.Trade active
greatTrade active
The double top pattern is quite obvious at present. Waiting for the release of data this week, if it is favorable to the bears, the price will fall further.Trade active
Pay attention to the resistance near 2518Trade active
Before the start of New York time, the price broke through the support and started a sharp decline. There will be some rebounds during today's trading. If it cannot stabilize above 2506, the downward trend will not change, and trading will continue to be dominated by shorts.
Starting next week, I won't be posting strategies here anymore. If you'd like to continue following the trades, you can join the free channel.
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