We're currently monitoring a textbook V-shaped recovery pattern in Gold, with price action showing impressive strength after carving out a significant bottom. The recent upward momentum has been substantial, but we're not chasing entries at current levels. Instead, we're patiently waiting for a healthy retracement to develop, which should provide more favorable entry conditions for long positions. Our analysis indicates this pullback represents a strategic opportunity rather than a reversal of the broader bullish trend.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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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.