(gold big flying soon)
1. Resistance Area May Not Hold
The marked resistance area could be weak if bullish momentum continues strongly, especially with a breakout above recent highs.
If price consolidates near resistance without strong rejection, it may indicate accumulation rather than reversal
2. Support Areas Could Fail
The support zones might not hold if there's a strong bearish catalyst, like economic news or a shift in market sentiment.
A breakdown below the strong bullish support area could signal a deeper pullback.
3. Alternative Scenarios
Instead of bouncing from the lower support, the price might consolidate and range before a clear breakout direction.
A false breakout above resistance could trigger a liquidity grab, leading to a sharp drop instead of an upward move.
4. Indicators & Confirmation Needed
The chart does not include indicators like RSI, MACD, or moving averages, which could provide additional confirmation
1. Resistance Area May Not Hold
The marked resistance area could be weak if bullish momentum continues strongly, especially with a breakout above recent highs.
If price consolidates near resistance without strong rejection, it may indicate accumulation rather than reversal
2. Support Areas Could Fail
The support zones might not hold if there's a strong bearish catalyst, like economic news or a shift in market sentiment.
A breakdown below the strong bullish support area could signal a deeper pullback.
3. Alternative Scenarios
Instead of bouncing from the lower support, the price might consolidate and range before a clear breakout direction.
A false breakout above resistance could trigger a liquidity grab, leading to a sharp drop instead of an upward move.
4. Indicators & Confirmation Needed
The chart does not include indicators like RSI, MACD, or moving averages, which could provide additional confirmation
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.
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.