Key Elements Explained
1. Price Movement
• The chart shows a strong bullish trend with price climbing from around $3,326 to above $3,481.
• A projected short-term peak is shown (around the $3,492 area).
2. Forecasted Move
• A black zigzag line predicts a short retracement, followed by a stronger downward move.
• This suggests the trader expects selling pressure after this rally.
3. Targets
• TP1 (Take Profit 1): $3,427.627 — the first possible support level.
• TP2 (Take Profit 2): Near $3,357.451 — the deeper correction level.
• Target box with an arrow shows an expected retracement zone around $3,390, possibly suggesting a buying opportunity or take profit zone.
4. Resistance & Support
• Resistance levels (in red on the right): $3,524.944 and $3,492.062.
• Support levels: $3,358.325, $3,357.451, $3,326.872, and $3,296.982.
⸻
What It Suggests
• Short-term strategy: Price might peak soon and correct downward.
• Trade idea: Consider short positions after signs of reversal around $3,492, targeting $3,427 and $3,357.
1. Price Movement
• The chart shows a strong bullish trend with price climbing from around $3,326 to above $3,481.
• A projected short-term peak is shown (around the $3,492 area).
2. Forecasted Move
• A black zigzag line predicts a short retracement, followed by a stronger downward move.
• This suggests the trader expects selling pressure after this rally.
3. Targets
• TP1 (Take Profit 1): $3,427.627 — the first possible support level.
• TP2 (Take Profit 2): Near $3,357.451 — the deeper correction level.
• Target box with an arrow shows an expected retracement zone around $3,390, possibly suggesting a buying opportunity or take profit zone.
4. Resistance & Support
• Resistance levels (in red on the right): $3,524.944 and $3,492.062.
• Support levels: $3,358.325, $3,357.451, $3,326.872, and $3,296.982.
⸻
What It Suggests
• Short-term strategy: Price might peak soon and correct downward.
• Trade idea: Consider short positions after signs of reversal around $3,492, targeting $3,427 and $3,357.
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+crZRykT5XGsyYjFk
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+crZRykT5XGsyYjFk
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.