Gold might actually fall back to 1980. Here's why!
Hello fellow traders and the vibrant Tradingview community! Driven by the US Dollar
weakness across the board, XAU/USD too spiked up rapidly to the 2040 level.
Despite the rapid impulsive bullish move, we are seeing a lack of follow-through here.
It seems the Gold bulls are exhausted and profit taking may occur anytime.
So, based on these facts, if Gold doesn't break through the highlighted zone in my chart,
the price may fall back to 1980. I am considering selling Gold@2035 with Stop loss
above the resistance zone and TP at 1980.
weakness across the board, XAU/USD too spiked up rapidly to the 2040 level.
Despite the rapid impulsive bullish move, we are seeing a lack of follow-through here.
It seems the Gold bulls are exhausted and profit taking may occur anytime.
So, based on these facts, if Gold doesn't break through the highlighted zone in my chart,
the price may fall back to 1980. I am considering selling Gold@2035 with Stop loss
above the resistance zone and TP at 1980.
הערה:
Waiting for a big bearish candlestick
הערה:
No bearishness so far, not selling yet
עסקה פעילה:
Sold@2046
הערה:
Partial profit taken, SL set to entry for the remaining lot
עסקה סגורה: היעד הושג:
Closed@2028 with decent profits