Contrarian Perspective (Bearish Case)
Instead of a breakout, the price could fail to sustain above the resistance and reverse downward.
The double top formation suggests a potential bearish reversal rather than a continuation.
If price breaks below the support level, it could invalidate the bullish setup and lead to a decline towards 2,900 or lower
2. Fundamental Disruptions
Macroeconomic factors like interest rate hikes, inflation data, or geopolitical instability could change the trend unexpectedly.
Unexpected news (such as central bank decisions on gold reserves) could cause volatility, disrupting the predicted movement.
3. Market Manipulation Risks
Whale activity or institutional traders might push the price in the opposite direction to trap retail traders.
False breakouts could occur before the actual move, stopping out early traders.
4. Alternative Technical Patterns
Instead of following the expected support bounce, price might consolidate in a range.
The resistance zone might turn into a supply zone, leading to a prolonged sideways movement
Instead of a breakout, the price could fail to sustain above the resistance and reverse downward.
The double top formation suggests a potential bearish reversal rather than a continuation.
If price breaks below the support level, it could invalidate the bullish setup and lead to a decline towards 2,900 or lower
2. Fundamental Disruptions
Macroeconomic factors like interest rate hikes, inflation data, or geopolitical instability could change the trend unexpectedly.
Unexpected news (such as central bank decisions on gold reserves) could cause volatility, disrupting the predicted movement.
3. Market Manipulation Risks
Whale activity or institutional traders might push the price in the opposite direction to trap retail traders.
False breakouts could occur before the actual move, stopping out early traders.
4. Alternative Technical Patterns
Instead of following the expected support bounce, price might consolidate in a range.
The resistance zone might turn into a supply zone, leading to a prolonged sideways movement
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.
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.