Gold looks bearish and give a retracement to 2600

**Overview:** has been on a significant bull run for a prolonged period due to various fundamental factors driving its upward momentum. However, it has recently broken its bullish structure and is now trading below the previous support level of 2710. This level, which once served as support, is currently acting as resistance, marking a potential shift in trend from bullish to bearish. Gold is also forming a inverse Head and Shoulders pattern which can give a good target if played well.

**Trade Plan:**
Since gold is now trading below the critical resistance level of 2710, a short position could be considered. Place a stop loss just above the 2710 resistance to manage risk effectively. If this resistance holds and the price fails to reclaim it, it supports the case for a bearish move. Opening a short position in this setup can provide an advantageous risk-to-reward ratio, aligning well with short-term market direction.

**Targets:**
1st TP: 2670
2nd TP: 2630
3rd TP: 2600

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**Note:** This analysis is purely my personal opinion and is intended for educational purposes only. It does not constitute financial advice. Always perform your own analysis or consult a certified financial advisor before making any trading or investment decisions. I am not responsible for any financial loss that may result from following this information.

交易結束：目標達成