Bias: Bearish
Timeframes: 15-Minute to 4-Hour Charts
Rationale:
Consistent downtrend or weakness visible across intraday (15m, 30m) and short-term (1h, 4h) timeframes.
Price action confirms lower highs and lower lows.
Possible breakdown below key support levels or moving averages.
Trade Plan:
Entries: Seek short positions on bounces to resistance or after breakdowns from consolidation.
Targets: Focus on recent swing lows or identified support zones as profit targets.
Stops: Place stops above recent swing highs or key resistance levels to manage risk.
Risk:
Monitor for signs of reversal or bullish divergence.
Avoid holding positions into major news/events that could trigger volatility.
Summary:
Gold may decline to 3230 in the short term, as technical signals from the 15-minute to 4-hour charts indicate sustained bearish momentum.
Timeframes: 15-Minute to 4-Hour Charts
Rationale:
Consistent downtrend or weakness visible across intraday (15m, 30m) and short-term (1h, 4h) timeframes.
Price action confirms lower highs and lower lows.
Possible breakdown below key support levels or moving averages.
Trade Plan:
Entries: Seek short positions on bounces to resistance or after breakdowns from consolidation.
Targets: Focus on recent swing lows or identified support zones as profit targets.
Stops: Place stops above recent swing highs or key resistance levels to manage risk.
Risk:
Monitor for signs of reversal or bullish divergence.
Avoid holding positions into major news/events that could trigger volatility.
Summary:
Gold may decline to 3230 in the short term, as technical signals from the 15-minute to 4-hour charts indicate sustained bearish momentum.
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.