GOLD Sell Zone
A potential selling opportunity has been identified in Gold, with a sell entry between 3037 and 3040.
*Sell Entry:* 3037 - 3040
*Target Levels:*
- _TP1: 3027_
- _TP2: 3017_
- _TP3: 3000_
- _TP4: 2981_
*Stop-Loss:* 3063
*Reasons to Sell:*
1. *Resistance Zone:* Gold has reached a strong resistance zone between 3037 and 3040.
2. *Overbought Conditions:* Gold's RSI indicator is showing overbought conditions.
3. *Potential Reversal:* A reversal in Gold's price could be imminent, given the recent rally.
*Market Context:*
Gold prices are consolidating after reaching a record high, with investors cautious ahead of the US Federal Reserve's monetary policy announcements. A hawkish decision could lead to a sharp correction in gold prices.
*Federal Reserve Decision:*
The Fed is widely expected to extend the pause to its interest-rate-cutting cycle in March. However, any hints of a further extension of the pause, or fewer rate cuts this year, could trigger a sharp correction in gold prices.
*Geopolitical Tensions:*
Persisting tensions, such as the Israel-Gaza conflict and Ukraine-Russia tensions, may cap any downside in gold prices.
*Trading Strategy:*
Sell Gold between 3037 and 3040, with a stop-loss at 3063. The TP levels can be used to take profits or adjust the stop-loss to break-even.
Keep your best wishes to Travis 👍
A potential selling opportunity has been identified in Gold, with a sell entry between 3037 and 3040.
*Sell Entry:* 3037 - 3040
*Target Levels:*
- _TP1: 3027_
- _TP2: 3017_
- _TP3: 3000_
- _TP4: 2981_
*Stop-Loss:* 3063
*Reasons to Sell:*
1. *Resistance Zone:* Gold has reached a strong resistance zone between 3037 and 3040.
2. *Overbought Conditions:* Gold's RSI indicator is showing overbought conditions.
3. *Potential Reversal:* A reversal in Gold's price could be imminent, given the recent rally.
*Market Context:*
Gold prices are consolidating after reaching a record high, with investors cautious ahead of the US Federal Reserve's monetary policy announcements. A hawkish decision could lead to a sharp correction in gold prices.
*Federal Reserve Decision:*
The Fed is widely expected to extend the pause to its interest-rate-cutting cycle in March. However, any hints of a further extension of the pause, or fewer rate cuts this year, could trigger a sharp correction in gold prices.
*Geopolitical Tensions:*
Persisting tensions, such as the Israel-Gaza conflict and Ukraine-Russia tensions, may cap any downside in gold prices.
*Trading Strategy:*
Sell Gold between 3037 and 3040, with a stop-loss at 3063. The TP levels can be used to take profits or adjust the stop-loss to break-even.
Keep your best wishes to Travis 👍
Trade active
Our first tp hit guys
Note
Our 3rd tp is about to hit guys. Bearish is still on the way 🔥🔥🔥
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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.
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.