The five-wave upward movement in gold has been completed. Next, we expect a period of consolidation around 3130, forming a short-term top before a potential pullback. However, during this consolidation phase, there is a possibility of a price surge, though the probability is low.
Trading Suggestions:
For conservative traders: Avoid rushing into positions. It’s better to wait for a pullback and the confirmation of a secondary top before entering trades.
For aggressive traders: You may enter at the current price, but be cautious with your position sizing and leave room for potential additions.
Based on the magnitude of the previous upward movement, the expected retracement zone is around 3110-3096, where a minor support level may form.
Trading Strategy:
📉 Sell in the 3121-3131 range
📈 Buy in the 3105-3090 range
Trade carefully
Trading Suggestions:
For conservative traders: Avoid rushing into positions. It’s better to wait for a pullback and the confirmation of a secondary top before entering trades.
For aggressive traders: You may enter at the current price, but be cautious with your position sizing and leave room for potential additions.
Based on the magnitude of the previous upward movement, the expected retracement zone is around 3110-3096, where a minor support level may form.
Trading Strategy:
📉 Sell in the 3121-3131 range
📈 Buy in the 3105-3090 range
Trade carefully
Trade active
Rebound after hitting the 3105-3096 range, a win-win for both bulls and bearsTrade closed: target reached
Overall, the market presented many opportunities today, and we successfully captured several major swings, securing substantial profits! How was your trading today? If you encountered any difficulties or need assistance, feel free to leave me a message—I’m here to provide expert analysis and guidance.
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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.
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.