The current sentiment around Gold is highly bullish, with traders showing a strong bias towards continued upward momentum.
This optimism, however, may be breeding a sense of complacency that often precedes a major market shift.
Technically, indeed, the recent break above local resistance around the $2,742-$2,745 zone gives bulls a target near $2,780, reflecting the recent momentum.
Yet from a swing trading perspective, entering long at this level may carry more risk than reward.
The market's potential for a significant downside reversal could present far more valuable entry points.
Waiting for clear signs of a trend change, rather than chasing highs, aligns better with my risk-conscious approach, positioning to capture more meaningful moves on the downside.
This optimism, however, may be breeding a sense of complacency that often precedes a major market shift.
Technically, indeed, the recent break above local resistance around the $2,742-$2,745 zone gives bulls a target near $2,780, reflecting the recent momentum.
Yet from a swing trading perspective, entering long at this level may carry more risk than reward.
The market's potential for a significant downside reversal could present far more valuable entry points.
Waiting for clear signs of a trend change, rather than chasing highs, aligns better with my risk-conscious approach, positioning to capture more meaningful moves on the downside.
Trade active
We have a build-up in the resistance given by ATHLet's see how the break will be
Measured target for such a move is 2770
Trade closed: target reached
2770 intraday target hitSmall trade tough
I still wait for big reversal to have a normal volume trade
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.