Gold is moving in range from When the market reaches the trendline retest at the 3340 level, we may witness bearish movement if the candles respect and follow the trend. If a candle breaks and closes below this level, it could confirm the downward move, allowing a sell-side entry.
Scenarios 1:
When the market reaches the trendline retest at the 3340 level, we may witness bearish movement if the candles respect and follow the trend. If a candle breaks and closes below this level, it could confirm the downward move, allowing a sell-side entry.
Scenario 2:
If the market breaks above the key resistance area and closes higher, we could see bullish momentum. In this case, a buy-side entry may be considered as the market starts to follow an upward trend.
Scenarios 1:
When the market reaches the trendline retest at the 3340 level, we may witness bearish movement if the candles respect and follow the trend. If a candle breaks and closes below this level, it could confirm the downward move, allowing a sell-side entry.
Scenario 2:
If the market breaks above the key resistance area and closes higher, we could see bullish momentum. In this case, a buy-side entry may be considered as the market starts to follow an upward trend.
Order cancelled
The price broke through the range as expected, but instead of retesting the upper trend line, it moved directly downward. The trade setup was solid, and the market did move in the anticipated direction.However, the price dropped before reaching our key levels, moving too quickly and deviating from the expected behavior, which led to the cancellation of the trade.
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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.