It appears that the current trend for gold is bearish, suggesting a continuation of the decline. A selling opportunity exists, especially if there is a slight retracement up to the 2706 level, which could act as a favorable sell zone.
The anticipated price drop targets the following take-profit zones:
First Target: Around 2666
Second Target: Around 2652
Third Target: Around 2622
Each of these levels represents a potential area to consider for taking profits on short positions. Notably, the 2622 level is identified as a strong buying zone, offering a good opportunity to initiate long positions.
Risk Management Reminder: I strongly advise to adhere strictly to risk management strategies when trading these levels.
The anticipated price drop targets the following take-profit zones:
First Target: Around 2666
Second Target: Around 2652
Third Target: Around 2622
Each of these levels represents a potential area to consider for taking profits on short positions. Notably, the 2622 level is identified as a strong buying zone, offering a good opportunity to initiate long positions.
Risk Management Reminder: I strongly advise to adhere strictly to risk management strategies when trading these levels.
All the Best
M.K
M.K
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.
All the Best
M.K
M.K
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.