Short idea on GOLD.
Updated
Key Points for Short Decision:
1.Gold is near its all-time high of 2,531.765.
2.Gold is forming lower lows, indicating a potential bearish trend.
3.On Thursday, August 22, 2024, Gold broke below minor daily support at 2,497.400.
4.A bullish close on Friday suggests a potential liquidity hunt before a significant downward move.
5.I'm waiting for a green-red candle resistance on the daily timeframe to confirm my short idea.
My stop loss is at 2,527.781.
My targets are 2,497.40, 2,478, and 2,444.55.
Potential profit: Over 500 pips.
Note: These are potential price targets based on technical analysis and chart Pattern. Market conditions can change rapidly, and past performance is not indicative of future results. Always conduct thorough research and consider your risk tolerance before
making any investment decisions.
1.Gold is near its all-time high of 2,531.765.
2.Gold is forming lower lows, indicating a potential bearish trend.
3.On Thursday, August 22, 2024, Gold broke below minor daily support at 2,497.400.
4.A bullish close on Friday suggests a potential liquidity hunt before a significant downward move.
5.I'm waiting for a green-red candle resistance on the daily timeframe to confirm my short idea.
My stop loss is at 2,527.781.
My targets are 2,497.40, 2,478, and 2,444.55.
Potential profit: Over 500 pips.
Note: These are potential price targets based on technical analysis and chart Pattern. Market conditions can change rapidly, and past performance is not indicative of future results. Always conduct thorough research and consider your risk tolerance before
making any investment decisions.
Trade active
price dipped below yesterday's low
Trade active
100+ PIPS Closing Partial
Trade active
I'm waiting for green-red candles (a bearish reversal pattern) on the daily timeframe
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