After reaching its recent all-time high exactly one week ago, Gold began a correction, dropping to $3,000, where buyers stepped in. This led to a recovery, pushing the price above a key resistance zone at $3,025–$3,030.
At the time of writing, the price is sitting at the upper boundary of this support zone. If it stabilizes above this level, a new ATH could be on the horizon.
I remain bullish as long as the daily close stays above this zone.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
At the time of writing, the price is sitting at the upper boundary of this support zone. If it stabilizes above this level, a new ATH could be on the horizon.
I remain bullish as long as the daily close stays above this zone.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade active
Gold has reversed exactly from my support zone, and now the trade from yesterday is running with 200 pips profit and no risk (stop loss in break even).I expect a new ATH, as explained, and 3080 is my interest zone.
Trade closed: target reached
Gold reached my target zone and my trade is closed now with 550 pips profit
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.