Last week, Gold seemed poised to reach a new all-time high. However, after a spike following Friday's Non-Farm Payroll (NFP) report, the price fell dramatically. Although the daily close resulted in a Doji candle on our chart, the daily volatility, measured from top to bottom, was 600 pips.
Monday was another extremely volatile day, with a daily range of nearly 1000 pips. The following days showed more manageable volatility but increased selling pressure.
Currently, bulls are trying to reclaim the 2400 level, but the overall outlook remains bearish. I am looking to sell during rallies, with my ideal entry point being in the 2420-2430 range. My initial target is 2360, and a drop below this level could lead to a decline below 2300.
Monday was another extremely volatile day, with a daily range of nearly 1000 pips. The following days showed more manageable volatility but increased selling pressure.
Currently, bulls are trying to reclaim the 2400 level, but the overall outlook remains bearish. I am looking to sell during rallies, with my ideal entry point being in the 2420-2430 range. My initial target is 2360, and a drop below this level could lead to a decline below 2300.
📈 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.
📈 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.