GOLD → Correction amid strong bearish trend
Updated
XAUUSD stops its fall after reaching our yesterday's target. After a false breakout of 1860, a counter-trend correction to resistance is forming. But why!?
The price cannot fall all the time, after a strong movement to one side or another a correction is formed to increase liquidity - complex mechanisms of market management by big players.
The price is approaching the area of 1875 - an important enough place to form further targets. Above 1878 a pool of liquidity is forming and most likely the price may form a retest or a false breakout before falling further. Maybe a sideways flat will form after a strong fall. But at the moment we have the background of a strong trend
Key resistance: 1875, 1878
Key support: 1860
In the long term I expect a continuation of the fall, the reasons for this are given in the early ideas. But a small correction may follow before a further fall.
Regards R. Linda
Note
Target reached ;)Trade closed: target reached
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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.