Downtrend Has Been Started.
XAUSD 2-Hour Chart Analysis:
A bearish reversal pattern CHOCH has been identified on the 2-hour chart of XAUSD, following multiple bullish bars. Additionally, a Fair Value Gap has been observed, indicating a potential imbalance in the market.
Based on this technical analysis, a strong sell signal has been generated, suggesting the start of a downtrend. Traders are advised to avoid buying against the trend and instead focus on selling opportunities.
Strong Selling Area: (2750-2760)
News Impact:
The current downtrend in gold may be exacerbated by news-driven market sentiment. A stronger US dollar, rising interest rates, or decreased demand for safe-haven assets could further contribute to the decline in gold prices. Conversely, any positive news that boosts demand for gold could potentially trigger a reversal. However, based on the current technical analysis, the sell signal remains strong.
Note:
Trading in financial markets carries inherent risks, and traders should always conduct thorough research and analysis before making any trading decisions.
A bearish reversal pattern CHOCH has been identified on the 2-hour chart of XAUSD, following multiple bullish bars. Additionally, a Fair Value Gap has been observed, indicating a potential imbalance in the market.
Based on this technical analysis, a strong sell signal has been generated, suggesting the start of a downtrend. Traders are advised to avoid buying against the trend and instead focus on selling opportunities.
Strong Selling Area: (2750-2760)
News Impact:
The current downtrend in gold may be exacerbated by news-driven market sentiment. A stronger US dollar, rising interest rates, or decreased demand for safe-haven assets could further contribute to the decline in gold prices. Conversely, any positive news that boosts demand for gold could potentially trigger a reversal. However, based on the current technical analysis, the sell signal remains strong.
Note:
Trading in financial markets carries inherent risks, and traders should always conduct thorough research and analysis before making any trading decisions.
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Gold reached at 2760 from 2733. We Got 270 Pips Profit. Currently Gold is at P.O.I also filled FVG soon we will see waterfall.
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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.
Join Our Telegram Channel For Getting Signals and Analysis👇👇
t.me/Trade_with_Natasha7
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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.