In yesterday’s analysis, I mentioned that due to Monday’s daily Pin Bar, I closed my short trade on Gold around break-even and decided to wait for more confirmation.
Unfortunately, that wasn't the best decision. The price failed to break above resistance for a bullish continuation and instead dropped sharply, closing the day exactly at the 3300 figure. At the time of writing, Gold is trading even lower at 3293, after briefly rebounding from the 3285 support zone—a level I’ve highlighted in the past.
Moving forward, after the failed bullish continuation and yesterday’s bearish move, it’s clear that bears are back in control. A drop toward the 3250 zone is now on the table.
Conclusion: I’m looking to sell rallies, with my invalidation zone set above 3340, aiming for a good risk-to-reward setup.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Unfortunately, that wasn't the best decision. The price failed to break above resistance for a bullish continuation and instead dropped sharply, closing the day exactly at the 3300 figure. At the time of writing, Gold is trading even lower at 3293, after briefly rebounding from the 3285 support zone—a level I’ve highlighted in the past.
Moving forward, after the failed bullish continuation and yesterday’s bearish move, it’s clear that bears are back in control. A drop toward the 3250 zone is now on the table.
Conclusion: I’m looking to sell rallies, with my invalidation zone set above 3340, aiming for a good risk-to-reward setup.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。