Hello Traders,
Gold has reached a key historical resistance level and is showing signs of rejection with pin bars on the 2-hour timeframe. This suggests that bullish momentum may be weakening, potentially leading to a pullback. I’m closely watching the current 2-hour candle to see if it closes bearish, ideally engulfing the previous two bullish candles.
Three pin bars formed at the resistance area suggesting that the bullish trend may be weaking for a short term
With the month coming to an end, large investors might start closing their portfolios, which could trigger a 20%-30% pullback on the monthly candle. This aligns with our support level around 3030. For a trading setup, I’ll wait for the current 2-hour candle to close bearish and look for a slight retracement to 3075 as a potential shorting opportunity.
20%-30% retracement may be possible due to investors closing their monthly portfolios
If you find this analysis helpful, a boost would be greatly appreciated! 🚀
Gold has reached a key historical resistance level and is showing signs of rejection with pin bars on the 2-hour timeframe. This suggests that bullish momentum may be weakening, potentially leading to a pullback. I’m closely watching the current 2-hour candle to see if it closes bearish, ideally engulfing the previous two bullish candles.
Three pin bars formed at the resistance area suggesting that the bullish trend may be weaking for a short term
With the month coming to an end, large investors might start closing their portfolios, which could trigger a 20%-30% pullback on the monthly candle. This aligns with our support level around 3030. For a trading setup, I’ll wait for the current 2-hour candle to close bearish and look for a slight retracement to 3075 as a potential shorting opportunity.
20%-30% retracement may be possible due to investors closing their monthly portfolios
If you find this analysis helpful, a boost would be greatly appreciated! 🚀
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
🔥Free Telegram Channel For Signals👇
t.me/+cJIWSM9RjvgyYzg0
t.me/+cJIWSM9RjvgyYzg0
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.