Gold has broken above 2700, followed by a slight retracement. Currently, a potential double-top pattern is emerging. Mid-term indicators still show bullish momentum, but short-term factors favor the bears. The trade strategy is to continue shorting. If the price reaches the 2718-2724 range, increase short positions, with a target near 2700.
Double-Top Pattern: This is a potential bearish reversal signal, especially if the price fails to break above the previous high and begins to decline, signaling a possible trend change.
Double-Top Pattern: This is a potential bearish reversal signal, especially if the price fails to break above the previous high and begins to decline, signaling a possible trend change.
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The gold price is already falling, you can choose to close some ordersTrade active
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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.