Over-Reliance on Double Top Projection
• The chart assumes a price move straight up to form a “double top” around 3,540–3,550 without acknowledging possible market hesitation or intervening resistance zones.
• A double top pattern requires a confirmation of rejection at the same level; assuming it prematurely can be misleading.
2. Support Zone Might Not Be Strong Enough
• The “Strong Support and Bullish Area” is drawn around 3,200–3,230, but the bounce shown in the chart is still not well-established. A break below this would invalidate the bullish thesis.
• There is no confirmation of higher lows, which is critical for a trend reversal.
3. Overlooked Bearish Pressure
• The previous high (around 3,540) led to a sharp selloff, indicating strong supply. This area could be a distribution zone rather than just resistance.
• Market sentiment might still be bearish unless a higher high is confirmed.
4. Resistance Area Is Vague
• The “Resistance” zone between 3,340–3,360 is too narrow and lacks confluence with indicators like moving averages or volume spikes.
• A pullback from this zone is plausible, and it should be treated as a decision area, not just a step before price rallies.
5. Economic Events Are Ignored
• There is an icon showing a U.S. economic event, but the chart doesn’t factor in fundamental catalysts, which could disrupt technical patterns significantly.
• The chart assumes a price move straight up to form a “double top” around 3,540–3,550 without acknowledging possible market hesitation or intervening resistance zones.
• A double top pattern requires a confirmation of rejection at the same level; assuming it prematurely can be misleading.
2. Support Zone Might Not Be Strong Enough
• The “Strong Support and Bullish Area” is drawn around 3,200–3,230, but the bounce shown in the chart is still not well-established. A break below this would invalidate the bullish thesis.
• There is no confirmation of higher lows, which is critical for a trend reversal.
3. Overlooked Bearish Pressure
• The previous high (around 3,540) led to a sharp selloff, indicating strong supply. This area could be a distribution zone rather than just resistance.
• Market sentiment might still be bearish unless a higher high is confirmed.
4. Resistance Area Is Vague
• The “Resistance” zone between 3,340–3,360 is too narrow and lacks confluence with indicators like moving averages or volume spikes.
• A pullback from this zone is plausible, and it should be treated as a decision area, not just a step before price rallies.
5. Economic Events Are Ignored
• There is an icon showing a U.S. economic event, but the chart doesn’t factor in fundamental catalysts, which could disrupt technical patterns significantly.
Trade active
Trade active Note
NoteTrade closed: target reached
Active trade 
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
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.
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
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.