GOLD SHORTPrices Already on Resistance!!
If Market Crash Price can go higher up to $2900 (I mean 20% rally).
or Opposite, It come down to $2100 to $2000 level
It will provide a bearish divergence signal shortly. Keep an eye on it, but make a trade plan in advance.
A surge in the US dollar and Treasury yields also brought down the price of gold.
Central Banks are adding gold to their reserves.
Decresing Tick Volume
No matter the asset, investing always involves some risk, but savvy investors usually recognize the value of seeing openings during market downturns.
Furthermore, investors now have a compelling opportunity to diversify their holdings, protect themselves from market fluctuations, and maybe profit from a price comeback thanks to the recent drop in gold prices that occurred on April 25.
But before making any financial decisions, including adding gold to your portfolio, it's imperative that you carry out extensive study and evaluate your needs, goals, and risk tolerance.
"Escalating geopolitical risks significantly bolster gold as hot and cold conflicts, and a record number of elections this year, keep the risk thermometer high," HSBC was quoted as saying by Reuters.
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**First Scenario - Long:**
If Market Structure breaks on Daily TF and retest at 61.8%
Initial Target: $2900
Entry: $2390
Stoploss: $2325
**Second Scenario - Short:**
Initial Target: $2080
Entry: $2415
Stoploss: $2441
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Take into consideration:
Psychological Resistance at $2900
Psychological Support at $2050
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Price already in my area of value, just waiting for the market to tell me to get in on a sell.
NFA
DYOR
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Good Luck!
⚠️Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.
