GOLD - CORRECTION PROCESS
Generally, the trend is up.
Uptrend Side: Gold prices have resumed positive trading after the decline seen in previous sessions, reinforcing expectations for the continuation of the main bullish trend, with a potential correction anticipated around the 2506 level. As long as the price remains above 2495 and the downward trendline, particularly above the 2520 level, which represents our previous high, further upward movement toward the 2540 level is expected.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,495, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Correction: Beware; the price may undergo a strong correction at its high to around the 2475 level.
Tendency Keys: 2495
Uptrend Side: Gold prices have resumed positive trading after the decline seen in previous sessions, reinforcing expectations for the continuation of the main bullish trend, with a potential correction anticipated around the 2506 level. As long as the price remains above 2495 and the downward trendline, particularly above the 2520 level, which represents our previous high, further upward movement toward the 2540 level is expected.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,495, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Correction: Beware; the price may undergo a strong correction at its high to around the 2475 level.
Tendency Keys: 2495
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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