Over the past 10 days, I’ve consistently noted that XAUUSD is primed for a significant drop, especially after its 2,000-pip gain over 20 days. A strong correction is both healthy and expected.
Yesterday, after a brief new all-time high, Gold dropped sharply, declining roughly 600 pips from top to bottom. Despite this correction, I believe there’s more downside potential ahead. I’m planning to sell rallies, especially around the broken confluence support zone, where I’m watching for entry signals.
My overall target remains a drop below 2700, with 2690 as a strong support level to test.
Trade active
XauUsd touched the lower boundary of my sell zone.
Let's see if on NFP it will touche also the higher one to add to sell
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.