Gold has just posted a euphoric all‑time high at 3 499.6 after an almost parabolic climb along a single ascending trend‑line, and the wick that pierced that level sits in a thin, low‑volume pocket on the profile—classic bull‑trap territory—so once we see a four‑hour close beneath the trend‑line we expect momentum algos to flip, dragging price swiftly toward the 3 160‑3 130 demand block that marks the prior high‑volume consolidation; the short thesis is to scale into shorts between 3 480‑3 510, place invalidation above 3 525, and ride a potential vacuum move to that target zone (with room to extend toward 3 100) as crowded longs unwind, especially if a hawkish Fed headline or uptick in real yields provides the spark.
Trade closed: target reached
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.
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.