Gold is currently testing a strong resistance zone marked by multiple wicks, indicating potential rejection. A minor Break of Structure (BoS) has occurred, and price is struggling to break higher. If price closes below the marked BoS level with a solid candle body, it confirms bearish momentum.
🔻 Trade Idea: If price breaks below this level, I'll look for a short entry from the Supply Zone (SZ) to the Demand Zone (DZ) for a potential move lower.
📉 Bearish Confirmation: A strong close below support would signal further downside. Watching for price action confirmation before entering a trade.
🔻 Trade Idea: If price breaks below this level, I'll look for a short entry from the Supply Zone (SZ) to the Demand Zone (DZ) for a potential move lower.
📉 Bearish Confirmation: A strong close below support would signal further downside. Watching for price action confirmation before entering a trade.
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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.