As anticipated, gold is experiencing a significant decline. Since Monday's high, the price has dropped by 1,500 pips, with over 1,000 of those pips lost just since yesterday evening. The correction appears to be ongoing, suggesting further downside potential.
Currently, the 4-hour chart shows a strong bearish bias. With that in mind, our focus remains on the following key points:
1. We are targeting an additional 2,000 pip drop, potentially reaching the 3,000 region.
2. We will look for pullbacks on the 15-minute time frame to identify re-entry opportunities.
3. Our strategy is to continue following the bearish trend and ride the move downward.
Currently, the 4-hour chart shows a strong bearish bias. With that in mind, our focus remains on the following key points:
1. We are targeting an additional 2,000 pip drop, potentially reaching the 3,000 region.
2. We will look for pullbacks on the 15-minute time frame to identify re-entry opportunities.
3. Our strategy is to continue following the bearish trend and ride the move downward.
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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.
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.