4600 is the key...break or hold...untill the news
My cents
My cents
Stay Gold
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Make More Money - Eliminate DRAMA 11 replies
Just posting my trades, everyone is welcome but no drama 2 replies
DislikedGold on the 30 minute chart is forming a clear Head & Shoulders pattern inside an ascending channel. Price has already broken below the neckline around 4585-75 showing short term weakness. As long as gold stays below 4600-4620 the bias remains bearish with downside targets toward 4556 and 4538. A deeper pullback toward 4520-4500 is possible before any strong bounce. Only a sustained break and close above 4620-4630 would invalidate this setup and shift momentum back to buy.{image}Ignored
Disliked{quote} I have a question for you, if price has to fall till 4520 - 4500 what would be the best spot 4600 or 4620 or it could fall from 4580? Thanks!Ignored
Disliked{quote} If price is going to fall toward 4520-4500 the best place to sell is near 4620 as it is strong resistance and gives better risk reward. 4600 can also work but is less ideal. A drop from 4580 is possible but the higher probability and safer setup remains a rejection from 4600-4620.Ignored
Disliked{quote} technical indicators are pointing towards a correction at least to 4574 at least as per me, however, with gold you can never tell. World is on verge of multiple of wars/conflicts/revolutions, hence any small news here or there and gold will fly againIgnored