Gold- Stuck in a newly established range. Will support give away
Updated
Yesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound.
While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450.
Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone.
My swing trade strategy remains unchanged: sell into rallies.
While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450.
Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone.
My swing trade strategy remains unchanged: sell into rallies.
Trade active
My trade at this moment is not looking good at all and stop loss is a strong possibility Trade closed: stop reached
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💎 Crypto Channel:
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