Yesterday, as expected, Gold reached a new all-time high, coming very close to the key $3,000 psychological level.
Currently, the price is undergoing a minor correction, consolidating the strong gains from yesterday — which may present traders with a fresh opportunity to join the prevailing bullish trend.
The $2,955 level, representing the previous ATH, now acts as a key support. However, in my view, Gold is unlikely to revisit this level, as it would be too obvious and heavily watched by the market. Instead, I expect a shallow pullback followed by a new impulsive leg higher, likely pushing the price above the $3,000 mark.
Conclusion:
The strategy remains unchanged — buy dips in anticipation of a breakout to new all-time highs beyond $3,000.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Currently, the price is undergoing a minor correction, consolidating the strong gains from yesterday — which may present traders with a fresh opportunity to join the prevailing bullish trend.
The $2,955 level, representing the previous ATH, now acts as a key support. However, in my view, Gold is unlikely to revisit this level, as it would be too obvious and heavily watched by the market. Instead, I expect a shallow pullback followed by a new impulsive leg higher, likely pushing the price above the $3,000 mark.
Conclusion:
The strategy remains unchanged — buy dips in anticipation of a breakout to new all-time highs beyond $3,000.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade closed: target reached
3k reached during Friday s session
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
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Related publications
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
Related publications
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.