💲 Gold Declines Possible Anytime 💲
💲 Gold Declines Possible Anytime
💲 Nearest strong support zone: around the 0.618 level of the downtrend wave.
💲 Nearest strong resistance zone: around the 0.786 level of the downtrend wave.
💲 Technical environment:
- Moving averages: uptrend
- MACD: Uptrend
- RSI: Uptrend
💲 Price action: Gold really shot up strongly last week breaking through the $1920 level. I'm impressed with the upward momentum. But also there is no chance for me to join the continuation of the uptrend. At the current point it is dangerous due to the high price of gold. Considering the possible increase in the price of the dollar in the coming weeks, the continuation of gold's upward trend seems unlikely.
💲 The scenario I'm playing out is to wait for the current upward wave to end and watch how the correction will play out. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💲 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
💲 Nearest strong support zone: around the 0.618 level of the downtrend wave.
💲 Nearest strong resistance zone: around the 0.786 level of the downtrend wave.
💲 Technical environment:
- Moving averages: uptrend
- MACD: Uptrend
- RSI: Uptrend
💲 Price action: Gold really shot up strongly last week breaking through the $1920 level. I'm impressed with the upward momentum. But also there is no chance for me to join the continuation of the uptrend. At the current point it is dangerous due to the high price of gold. Considering the possible increase in the price of the dollar in the coming weeks, the continuation of gold's upward trend seems unlikely.
💲 The scenario I'm playing out is to wait for the current upward wave to end and watch how the correction will play out. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💲 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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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.
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
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.