Gold's HUGE drop - Where we going next?

📉 Gold Market Update: Key Levels & Strategy Ahead

Gold has experienced a significant decline, dropping over 1,000 pips in just the past three trading days. Currently, we’re seeing consolidation just above the $3,000 mark, with the price struggling to hold this psychological level.

While the broader trend appears bullish, we are now in a range-bound phase, which often leads to false breakouts and stop hunts. Given the current conditions:

🔸 Short Bias: The overall setup favors short positions, but patience is key. Look for higher price levels to enter shorts with better risk-to-reward ratios.
🔸 Scalp Opportunities: If you’re considering a long position, it should be strictly short-term (scalping) and only from well-defined support levels.
🔸 Capital Protection: This is not the time to over-leverage or chase moves. Gold is known for volatility in tight ranges—stay protected and use tight risk management.

⚠️ Bottom line: Gold is in a bearish consolidation zone. The safest play is to wait for clearer setups, preferably at resistance for shorts or strong support for scalps. Avoid getting chopped up in the range.

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