GOLD (XAUUSD): Classic Breakout Trade
Gold broke through and closed below an important intraday horizontal support level.
Following the breakout, the price retested the broken structure and began consolidating within a range.
A bearish breakout from this range is a significant intraday bearish signal.
The deep retest of the range increases the likelihood that the breakout is legitimate.
It is anticipated that the price will decline to at least 2850.
Following the breakout, the price retested the broken structure and began consolidating within a range.
A bearish breakout from this range is a significant intraday bearish signal.
The deep retest of the range increases the likelihood that the breakout is legitimate.
It is anticipated that the price will decline to at least 2850.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
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.