*Gold Market Technical Analysis*

This second chart builds on the previous idea and provides a possible trade scenario for CFDs on Gold:

Key Observations:

Current Price: Around $3,229.79

Two Key Zones:

Upper Red Zone (Resistance): Around $3,256–$3,264 — price may react bearishly here.

Lower Red Zone (Support-Turned-Resistance): Around $3,220 — may serve as a re-entry sell zone if price fails to hold above.


Arrows Indicate:

A potential upward move into the upper resistance zone, followed by a sharp bearish rejection.

Then, a projected move downward back toward the lower red zone and possibly below the $3,210 level.



Interpretation:

This chart appears to be forecasting a liquidity grab at the upper resistance before a reversal.

The white line at $3,209.824 could be a final target or support level, where price may eventually settle after the drop.


Potential Strategy:

Short Entry: Around $3,256–$3,264 (confirmation needed via wick rejection or bearish engulfing).

Stop Loss: Just above the resistance zone (e.g., $3,266+).

Take Profit: Gradually scale out between $3,220 and $3,210.


Let me know if you'd like this turned into a full trading plan with risk/reward calculations or if you’re analyzing this with a specific trading system.