The D1 gold candlestick confirmed a clear decline. Some late-day buying pressure around 3000 pushed the gold price a bit.
H4 has formed a bearish wave with an important price of 3028. If H4 cannot break 3028 today, there will likely be a strong sell-off of gold at the end of the day.
Trading scenario. Gold is pushing up from the 3015 price zone. Target in the European session is 3027-3028. If this zone cannot be broken at the end of the session, SELL and hold at 3008. If the US confirms a break of 3008, hold at 2983. In case of a break of 3028, the sellers are weak. Be careful of false break of 3028. If the break is real, wait for 3035 to SELL today.
Gold does not push up to 3027 but closes below 3015, then SELL to 3008. At the end of the session, if it breaks 3008, hold to 2983. If it doesn't break, then BUY again to the 3008 area, target 3028.
H4 has formed a bearish wave with an important price of 3028. If H4 cannot break 3028 today, there will likely be a strong sell-off of gold at the end of the day.
Trading scenario. Gold is pushing up from the 3015 price zone. Target in the European session is 3027-3028. If this zone cannot be broken at the end of the session, SELL and hold at 3008. If the US confirms a break of 3008, hold at 2983. In case of a break of 3028, the sellers are weak. Be careful of false break of 3028. If the break is real, wait for 3035 to SELL today.
Gold does not push up to 3027 but closes below 3015, then SELL to 3008. At the end of the session, if it breaks 3008, hold to 2983. If it doesn't break, then BUY again to the 3008 area, target 3028.
Trade active
3035 full TP
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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.