Traders,
Here's a breakdown of the current situation:
Daily Chart: Despite a bullish channel, recent candles show signs of weakness, warranting caution.
4-Hour Chart: The trendline has been breached, and a reversal to this broken level is underway, indicating a potential shift in momentum.
Intraday: A pivotal point coincides with previous significant zones, providing an opportune moment for short positions.
Consider initiating short positions either immediately or after confirmation signals.
Best regards,
Here's a breakdown of the current situation:
Daily Chart: Despite a bullish channel, recent candles show signs of weakness, warranting caution.
4-Hour Chart: The trendline has been breached, and a reversal to this broken level is underway, indicating a potential shift in momentum.
Intraday: A pivotal point coincides with previous significant zones, providing an opportune moment for short positions.
Consider initiating short positions either immediately or after confirmation signals.
Best regards,
Note
Due to current geopolitical situation of the world, opening short positions are a bit risky for gold. So risk less than normal in this case.Note
Still ActiveTrade closed: target reached
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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.