Mad-Hatter

Mad-Hatter

Price Action Patterns: The price appears to have been forming a rounded bottom, signaling possible accumulation. The recent price action has moved upwards towards a significant horizontal resistance at $3.65. This is the level to break for confirmation of a bullish breakout. Waves: The move resembles a Wave 1-2 pattern, with Wave 3 (impulsive wave) likely...

Mad-Hatter

My bias is short, my fundamentals and sentimentals are still bearish for gold. My IA for the day is we are gonna visit the daily open, and high % for lower level. my swing target is 2466.

Mad-Hatter

Potential Outcomes: Bullish Scenario (Higher Probability): Price breaks above $2,500: This would indicate continuation of the uptrend. If gold manages to close above this level with strong volume, it could signal further bullish momentum, possibly targeting the next resistance levels around $2,520-$2,540. Probability: Given that the trend has been strong and gold...

Mad-Hatter

Given the current structure of the chart and the indicators present, the next pivot point will likely be around key support and resistance levels. Here's a breakdown of the potential scenarios: If the Uptrend Continues: Next Resistance Level (Potential Pivot Point): The next pivot point in the context of an ongoing uptrend would be around the 2531.63 resistance...