Last week, gold experienced a sharp decline following a sustained rally driven by geopolitical tensions. Once again, our strategy helped capture profits during the downturn. This is the nature of the market—we must not only seize opportunities but also manage trading risks effectively. Losses are inevitable at times, but consistently aligning with the right market direction is key to ensuring stable account growth. Market Outlook for the Week
Gold is currently in a consolidation phase. Key levels to monitor:
Support: 2640
Resistance: 2680
Optimal Short-Selling Zone: 2675-2680
Today's Gold Trading Strategy
Instrument: XAU/USD
Sell Entry: 2675-2680
Take Profit (TP): 2650-2640
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Click the link to enter my Telegram channel. I have 15 years of trading experience to guide you in trading correctly and also provide account management services. t.me/LukeBaileyStrategy
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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.