Gold (XAU/USD) Breakdown Potential
hello guys.
Traders should watch for confirmation of rejection before entering short positions.
- The previous trendline was broken, leading to a bearish move.
- Price formed a range, consolidating between key levels.
- A breakout occurred below the range, signaling weakness.
- The current retest suggests a potential rejection and continuation to the downside.
- If price fails to reclaim the range, we could see a drop towards the $2,875 - $2,860 support zone.
Traders should watch for confirmation of rejection before entering short positions.
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Telegram: t.me/melikatrader94
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Related publications
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.
👉 My recommended exchange(you can get up to $5050 bonuses): lbank.one/join/uF7u10M
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
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.