Analysis & Trade Idea:
Gold is currently trading within an ascending channel but has approached a strong resistance zone near $3,056 - $3,064. A potential rejection from this level could trigger a bearish move.
📉 Sell Scenario:
Entry Zone: $3,056 - $3,064
Target Levels:
✅ TP1: $3,026
✅ TP2: $3,000
Stop Loss: Above $3,072
📊 Technical Outlook:
The price has reached a supply zone, indicating a possible reversal.
A break below the channel support could confirm a strong downside move.
Maintain strict risk management and wait for confirmation before entering.
⚠ Disclaimer: This analysis is for educational purposes only. Trade wisely
Gold is currently trading within an ascending channel but has approached a strong resistance zone near $3,056 - $3,064. A potential rejection from this level could trigger a bearish move.
📉 Sell Scenario:
Entry Zone: $3,056 - $3,064
Target Levels:
✅ TP1: $3,026
✅ TP2: $3,000
Stop Loss: Above $3,072
📊 Technical Outlook:
The price has reached a supply zone, indicating a possible reversal.
A break below the channel support could confirm a strong downside move.
Maintain strict risk management and wait for confirmation before entering.
⚠ Disclaimer: This analysis is for educational purposes only. Trade wisely
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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.
Unlock Market Insights! 🚀
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
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.