Gold finally broke below that trendline that’s been holding for a while.
We had a clean BOS (break of structure), then a retest into the previous support now acting as resistance.
Entered short after the rejection from the 3,134 zone.
My setup: Bearish
- Entry: $3,099
- SL: Above the retest zone 3,134
- TP:2,976 area (major demand zone)
- Reason: Trendline break + structure shift + retest
As long as price stays below that zone, I’m holding. Watching how price reacts around $3,000.
What do you think — continuation or fakeout?
We had a clean BOS (break of structure), then a retest into the previous support now acting as resistance.
Entered short after the rejection from the 3,134 zone.
My setup: Bearish
- Entry: $3,099
- SL: Above the retest zone 3,134
- TP:2,976 area (major demand zone)
- Reason: Trendline break + structure shift + retest
As long as price stays below that zone, I’m holding. Watching how price reacts around $3,000.
What do you think — continuation or fakeout?
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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.