I've identified a double top pattern forming on the daily time frame for gold. If the price breaks below the neckline, there’s a key support level around 3200, where I expect a potential bounce. From there, the price could retest the neckline area (around 3235–3250), which would now act as resistance. If the price gets rejected at that level and resumes its downward move, and especially if 3200 support breaks, that would be a prime entry point for a swing trade.
I plan to enter after the break and retest of 3200 and aim to hold the position until the price reaches my target at 2980.
This setup aligns with the idea that 80% of trading is waiting so I’m staying patient and ready to act when the opportunity comes.
I plan to enter after the break and retest of 3200 and aim to hold the position until the price reaches my target at 2980.
This setup aligns with the idea that 80% of trading is waiting so I’m staying patient and ready to act when the opportunity comes.
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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.