📉 Gold Market Update: Key Levels & Strategy Ahead
Gold has experienced a significant decline, dropping over 1,000 pips in just the past three trading days. Currently, we’re seeing consolidation just above the $3,000 mark, with the price struggling to hold this psychological level.
While the broader trend appears bullish, we are now in a range-bound phase, which often leads to false breakouts and stop hunts. Given the current conditions:
🔸 Short Bias: The overall setup favors short positions, but patience is key. Look for higher price levels to enter shorts with better risk-to-reward ratios.
🔸 Scalp Opportunities: If you’re considering a long position, it should be strictly short-term (scalping) and only from well-defined support levels.
🔸 Capital Protection: This is not the time to over-leverage or chase moves. Gold is known for volatility in tight ranges—stay protected and use tight risk management.
⚠️ Bottom line: Gold is in a bearish consolidation zone. The safest play is to wait for clearer setups, preferably at resistance for shorts or strong support for scalps. Avoid getting chopped up in the range.
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Gold has experienced a significant decline, dropping over 1,000 pips in just the past three trading days. Currently, we’re seeing consolidation just above the $3,000 mark, with the price struggling to hold this psychological level.
While the broader trend appears bullish, we are now in a range-bound phase, which often leads to false breakouts and stop hunts. Given the current conditions:
🔸 Short Bias: The overall setup favors short positions, but patience is key. Look for higher price levels to enter shorts with better risk-to-reward ratios.
🔸 Scalp Opportunities: If you’re considering a long position, it should be strictly short-term (scalping) and only from well-defined support levels.
🔸 Capital Protection: This is not the time to over-leverage or chase moves. Gold is known for volatility in tight ranges—stay protected and use tight risk management.
⚠️ Bottom line: Gold is in a bearish consolidation zone. The safest play is to wait for clearer setups, preferably at resistance for shorts or strong support for scalps. Avoid getting chopped up in the range.
If you found this breakdown helpful, don’t forget to give it a boost! 🚀
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❗️YouTube Channel youtube.com/@omerunfiltered1/shorts
❗️YouTube Channel youtube.com/@omerunfiltered1/shorts
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.
✅Free live signals: t.me/tradingwithomz
❗️YouTube Channel youtube.com/@omerunfiltered1/shorts
❗️YouTube Channel youtube.com/@omerunfiltered1/shorts
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.