Long-term GOLDHello to all traders. 😎😎
I hope all your deals will hit their targets. 🎉🎉
This is a **long-term analysis**, so it should be viewed with a **very long-term perspective**.
After breaking the **$2,000** level in **March 2024**, gold has **not yet pulled back** to this level. The strong upward movement over the past few months resembles an **ending pattern**, which could result in a **sharp decline**.
In the long run, I am **not very optimistic** about gold’s growth and believe that we should **expect a major drop**, at least to the **$2,000 range**.
### **Possible Scenarios for This Decline:**
1️⃣ **Black Path:** The market starts **falling from $2,700**. If this happens, the decline might take longer, as the market may **attempt multiple times** to collect **higher orders** before dropping.
2️⃣ **White Path:** The market rises to **$2,800** (previous high) before reversing downward. This scenario is **similar** to the first one.
3️⃣ **Orange Path:** The market **pushes up to $3,000**, collecting all **higher orders** before experiencing a **strong drop** back to the **$2,000 range**.
### **Invalidation of the Analysis:**
If gold **surpasses $3,000** and holds above this level for **one or two weekly candles**, this analysis will be invalidated. In that case, we may consider **higher price targets**, but given the **current global conditions**, this scenario seems **highly unlikely**.
### **What Do You Think?**
Which scenario do you think is more likely to happen? **Share your thoughts!** ⬇️
Don't forget that this is just an analysis to give you an idea and trade with your own strategy. And don't forget the stop loss🛑🛑🛑
❤️❤️❤️The only friend you have in financial markets is your stop loss❤️❤️❤️
Please support me with your ✅' like'✅ and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me 🙏😊
Be Happy , Ali Jamali
