Golden Opportunity: Key Market Supply Zone Signals Possible Sell
Updated
Welcome Traders!
Let's dive into an in-depth analysis of GOLD and explore a possible SELL setup.
we have a beautiful key market supply zone near a strong market level of $1950. This zone has previously acted as resistance as the market dropped from here a sizable 7.88%, making it a significant area to watch.
To enter this setup, we can look for a potential bearish candlestick formation on the lower time frames, such as a shooting star or bearish engulfing pattern, as confirmation of selling pressure. We can also consider placing a stop loss above the supply zone and aiming for a target at the next support level.
It's important to keep an eye on any potential news events or economic data releases that could impact the price of GOLD, as these could invalidate our analysis or present new opportunities.
In summary, with a strong market level and key supply zone in play, a potential SELL setup on GOLD is worth considering. Keep a sharp eye on it for confirmation and be mindful of any potential risks or opportunities.
Don't forget to like, comment, and follow for more updates on the financial markets!
Let's dive into an in-depth analysis of GOLD and explore a possible SELL setup.
we have a beautiful key market supply zone near a strong market level of $1950. This zone has previously acted as resistance as the market dropped from here a sizable 7.88%, making it a significant area to watch.
To enter this setup, we can look for a potential bearish candlestick formation on the lower time frames, such as a shooting star or bearish engulfing pattern, as confirmation of selling pressure. We can also consider placing a stop loss above the supply zone and aiming for a target at the next support level.
It's important to keep an eye on any potential news events or economic data releases that could impact the price of GOLD, as these could invalidate our analysis or present new opportunities.
In summary, with a strong market level and key supply zone in play, a potential SELL setup on GOLD is worth considering. Keep a sharp eye on it for confirmation and be mindful of any potential risks or opportunities.
Don't forget to like, comment, and follow for more updates on the financial markets!
Note
near entry points, getting readyOrder cancelled
not valid anymore, broke structure with force
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