Gold Spot / U.S. Dollar
Short
Updated

XAUUSD[GOLD]; Is it the beginning of the major correction?

8 088
XAUUSD[GOLD] dropped from 3265$ to 3127$, as predicted in our previous analysis. However, after touching 3127$, the price has retraced slightly and is currently trading at 3178$. In our opinion, the price can go up to $3220 maximum and reject at that level. We need to wait and see how prices behave. Another possible entry point is at 3178$, which is the current trading price. We believe this region is good for selling because the price has struggled to break through it. Please use a proper trading plan while trading gold.

As always, this analysis doesn’t guarantee that price will move as described in the chart. Please use your own knowledge and trading plan while trading gold. Good luck and trade safely.

Want to support us? Do the following ❤️
-LIKE THE IDEA
-COMMENT YOUR VIEW
-SHARE IF YOU AGREE

Much love ❤️
Team Setupsfx_
Trade active
965+ pips from our designated sell area, moving well. As explained we had to wait and see how price behave at $3220.

snapshot

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.