🥇 Gold Is Losing Strength 🥇
🥇 Gold Is Losing Strength
🥇 Nearest strong support zone: around the 0.618 level of the upward wave
🥇 Nearest strong resistance zone: around recent highs
🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Downtrend
- RSI: 50/50
🥇 Price action: gold today did not find enough strength to break through the recent highs which ended in a slow but noticeable wave of declines, at the current point anything is possible, also I would not get attached to the current short-term downtrend. It is necessary to wait for the formation of some kind of formation on higher intervals, but currently I favor a pro-declining scenario.
🥇 The scenario I'm playing is to wait for confirmation of a continuation of the upward or downward movement on higher intervals. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🥇 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
🥇 Nearest strong support zone: around the 0.618 level of the upward wave
🥇 Nearest strong resistance zone: around recent highs
🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Downtrend
- RSI: 50/50
🥇 Price action: gold today did not find enough strength to break through the recent highs which ended in a slow but noticeable wave of declines, at the current point anything is possible, also I would not get attached to the current short-term downtrend. It is necessary to wait for the formation of some kind of formation on higher intervals, but currently I favor a pro-declining scenario.
🥇 The scenario I'm playing is to wait for confirmation of a continuation of the upward or downward movement on higher intervals. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🥇 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
Note
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
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Disclaimer
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
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.