Gold is currently at the end of a consolidation triangle. A break above the key resistance level of 3661 would push it higher to test the 3772-3790 range, potentially reaching new all-time highs.
Conversely, a break below 3725-3717 could lead to a drop to 3700 or even around 3685.
The short-term strategy is to short around 3760 and open long positions on a pullback to 3730.
Once the market breaks out of the triangle's converging area, simply follow the trend.
If you're interested, feel free to share your position status with me. I'll share my analysis and whether it's better to hold on patiently and wait for the market to recover, or whether it's more prudent to adjust and switch positions in a timely manner.
Conversely, a break below 3725-3717 could lead to a drop to 3700 or even around 3685.
The short-term strategy is to short around 3760 and open long positions on a pullback to 3730.
Once the market breaks out of the triangle's converging area, simply follow the trend.
If you're interested, feel free to share your position status with me. I'll share my analysis and whether it's better to hold on patiently and wait for the market to recover, or whether it's more prudent to adjust and switch positions in a timely manner.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.