For most of last week, gold exhibited choppy price action.
As outlined in my Thursday analysis: "Gold could recover Monday's losses in a choppy manner, forming a flag pattern with resistance around 2660."
This prediction held true in the end and, after a brief spike above the resistance level, gold began its decline. At the time of writing, the price is trading at 2624, just above short-term support.
Looking ahead, I anticipate this support level will break, paving the way for a drop toward 2590 and 2575- a level that aligns with the measured target of the flag pattern.
My strategy remains to sell rallies, using last Friday's high as a key resistance point for positioning.
As outlined in my Thursday analysis: "Gold could recover Monday's losses in a choppy manner, forming a flag pattern with resistance around 2660."
This prediction held true in the end and, after a brief spike above the resistance level, gold began its decline. At the time of writing, the price is trading at 2624, just above short-term support.
Looking ahead, I anticipate this support level will break, paving the way for a drop toward 2590 and 2575- a level that aligns with the measured target of the flag pattern.
My strategy remains to sell rallies, using last Friday's high as a key resistance point for positioning.
Dagangan aktif
Gold has entered my sell zone above 2645Dagangan ditutup: sasaran tercapai
Closed at 2640 with marginal 100+ pips profit.Switching to buy
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t.me/intradaytradingsignals
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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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.