Looking at the chart, Gold is currently ranging within a Ranging Box and is testing a key Sell Zone at 2863 - 2866.
Expected Market Movements:
1. Bearish Move First:
• If price respects the Sell Zone, we might see a short-term drop to lower support levels around 2850 - 2827 before gathering liquidity.
2. Bullish Reversal Expected:
• After liquidity grab at lower levels, a bullish push could send price rallying back up to 2874 - 2890.
Key Levels to Watch:
• Sell Zone: 2863 - 2866
• Support Levels: 2850 2839 and 2827
• Resistance Levels: 2873 - 2890
🔹 Strategy Suggestion:
• Look for sell entries if price holds below the sell zone.
• Watch for a buy setup after the liquidity grab below 2850.
📌 Stay patient and wait for confirmation before entering trades!
Expected Market Movements:
1. Bearish Move First:
• If price respects the Sell Zone, we might see a short-term drop to lower support levels around 2850 - 2827 before gathering liquidity.
2. Bullish Reversal Expected:
• After liquidity grab at lower levels, a bullish push could send price rallying back up to 2874 - 2890.
Key Levels to Watch:
• Sell Zone: 2863 - 2866
• Support Levels: 2850 2839 and 2827
• Resistance Levels: 2873 - 2890
🔹 Strategy Suggestion:
• Look for sell entries if price holds below the sell zone.
• Watch for a buy setup after the liquidity grab below 2850.
📌 Stay patient and wait for confirmation before entering trades!
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.