GOLD/ Correction, and Then Decline Scenario
Generally, the direction is a downtrend
Summary: Prices are expected to rise before experiencing a sharp decline. Gold prices inched higher on Monday as investors anticipated a potential interest rate cut by the Federal Reserve this week, with particular attention on the central bank's outlook regarding rate cuts in the coming year.
Uptrend Side: breaking above 2664 by closing 1H or 4H will rise more to get the 2701.
Downtrend Side: The 2,664 level may act as resistance, potentially pushing the price downward and leading to a short correction. However, the stronger resistance at 2,071 could drive the price into a more significant decline, potentially falling below 2,606.
Tendency Keys: 2640
Summary: Prices are expected to rise before experiencing a sharp decline. Gold prices inched higher on Monday as investors anticipated a potential interest rate cut by the Federal Reserve this week, with particular attention on the central bank's outlook regarding rate cuts in the coming year.
Uptrend Side: breaking above 2664 by closing 1H or 4H will rise more to get the 2701.
Downtrend Side: The 2,664 level may act as resistance, potentially pushing the price downward and leading to a short correction. However, the stronger resistance at 2,071 could drive the price into a more significant decline, potentially falling below 2,606.
Tendency Keys: 2640
Trade active
As previously mentioned, the price is under selling pressure and has dropped, yielding a profit of over +100 pip.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.