Gold Market Analysis | Double Top Pattern,, 500+ Pips Target...
📉 XAUUSD Price Forecast 📉
Gold is at the top of an uptrend and has formed a Double Top reversal pattern. This indicates a potential bearish move, especially as the market is nearing a breakdown of the 200EMA and neckline of the pattern.
🔹 Technical Analysis:
Bearish Order Blocks:
💢2880 – After the neckline breakdown
💢2910 – After a retracement to resistance
✅ Target Range:
From the pattern height, the expected drop is 500+ pips.
🎯 Technical Target Levels:
〽️2862 – First support
〽️2842 – Second support
〽️2831 – Key level
〽️2812 – Critical breakdown point
〽️2774 – Final target after trendline breakdown
📢 Trading Insight:
Gold is showing strong bearish momentum, and after confirmation of the breakdown, holding short positions could yield high returns. Stay patient and follow the structure.
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Kind Regards, TrendLogic1 🚀
Gold is at the top of an uptrend and has formed a Double Top reversal pattern. This indicates a potential bearish move, especially as the market is nearing a breakdown of the 200EMA and neckline of the pattern.
🔹 Technical Analysis:
Bearish Order Blocks:
💢2880 – After the neckline breakdown
💢2910 – After a retracement to resistance
✅ Target Range:
From the pattern height, the expected drop is 500+ pips.
🎯 Technical Target Levels:
〽️2862 – First support
〽️2842 – Second support
〽️2831 – Key level
〽️2812 – Critical breakdown point
〽️2774 – Final target after trendline breakdown
📢 Trading Insight:
Gold is showing strong bearish momentum, and after confirmation of the breakdown, holding short positions could yield high returns. Stay patient and follow the structure.
🔔 Like, Comment & Follow for More Updates!
Kind Regards, TrendLogic1 🚀
t.me/TrendLogic1
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Disclaimer
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t.me/TrendLogic1
🌐Join Our VIP Telegram Trading Community! 📊
🔹High-accuracy trading signals for XAUUSD, Forex, & Crypto.
🎯Join now and take your trading to the next level!
t.me/TrendLogic1
🌐Join Our VIP Telegram Trading Community! 📊
🔹High-accuracy trading signals for XAUUSD, Forex, & Crypto.
🎯Join now and take your trading to the next level!
t.me/TrendLogic1
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.