hello guys!
as I published before:
the downward movement didn't happen as I expected!
in return the top line of pattern breakout! if this candle close lower than $2930.24 area then this scenario will happen!
1-Triangle Formation with Key Level at $2930.24
Gold is consolidating within a triangle pattern, with the top line acting as resistance and the bottom line as support.
$2930.24 is the key level to watch. If the price closes below this level, it could signal a breakdown from the triangle.
2-Support Areas to Watch:
If the breakdown happens, the first support area near $2923 will be tested.
A further drop could lead to the next support area around $2899.
3-Bearish Scenario:
A close below $2930.24 would suggest a shift in momentum, likely leading to a deeper correction and testing the support levels below.
Conclusion:
If Gold fails to hold above $2930.24, expect a bearish move with the potential for further declines to $2899. Watch this level closely for confirmation!
as I published before:
the downward movement didn't happen as I expected!
in return the top line of pattern breakout! if this candle close lower than $2930.24 area then this scenario will happen!
1-Triangle Formation with Key Level at $2930.24
Gold is consolidating within a triangle pattern, with the top line acting as resistance and the bottom line as support.
$2930.24 is the key level to watch. If the price closes below this level, it could signal a breakdown from the triangle.
2-Support Areas to Watch:
If the breakdown happens, the first support area near $2923 will be tested.
A further drop could lead to the next support area around $2899.
3-Bearish Scenario:
A close below $2930.24 would suggest a shift in momentum, likely leading to a deeper correction and testing the support levels below.
Conclusion:
If Gold fails to hold above $2930.24, expect a bearish move with the potential for further declines to $2899. Watch this level closely for confirmation!
Trade closed manually
the candle didn't close below than the breakout candle so this scenario become invalid
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.