✅ Gold fell below 4000 again due to Powell's hawkish comments, but this time the structure looks different. The earlier rise in gold prices created room for this decline, and bullish momentum is building, with liquidity gathering below 4000!
🔷Key Observations:
1. Despite the decline in gold prices, there was significant resistance during the decline, indicating that the bulls possess some defensive strength.
2. Although gold prices have fallen, the 3930-3910 area is currently a crucial support level.
3. Momentum divergence has appeared on the hourly and higher timeframes, potentially indicating that the bearish momentum is nearing exhaustion.
🔷Focus on:
A confirmed upward breakout of the 3950-3960 area will likely accelerate gold's rise towards the 3980-4000 area.
If gold can hold above the 3930-3910 area, I expect the price to continue contracting towards the 3980-4000 area.
💎Short-term traders may consider going long on gold in the 3930-3910 area.
💬What is your opinion? Do you think the bulls can hold the 3930-3910 area and start another rebound?
🔔Please comment below and follow for real-time updates.
🔷Key Observations:
1. Despite the decline in gold prices, there was significant resistance during the decline, indicating that the bulls possess some defensive strength.
2. Although gold prices have fallen, the 3930-3910 area is currently a crucial support level.
3. Momentum divergence has appeared on the hourly and higher timeframes, potentially indicating that the bearish momentum is nearing exhaustion.
🔷Focus on:
A confirmed upward breakout of the 3950-3960 area will likely accelerate gold's rise towards the 3980-4000 area.
If gold can hold above the 3930-3910 area, I expect the price to continue contracting towards the 3980-4000 area.
💎Short-term traders may consider going long on gold in the 3930-3910 area.
💬What is your opinion? Do you think the bulls can hold the 3930-3910 area and start another rebound?
🔔Please comment below and follow for real-time updates.
Trade active
✅The 3930-3910 area may have been identified as a temporary low.✅A W-shaped double bottom pattern is expected to form within the price action.
💎We almost caught the lowest point of volatility when buying gold. If you followed the strategy above and bought gold in batches within the 3930-3910 area, congratulations, you made a fortune!
🔔Please comment below and follow for real-time updates.
Trade closed: target reached
✅Gold performed exactly as I predicted, with long positions established in batches within the 3930-3910 range.📍Rebound rhythm: It started from the 3930-3910 area, and after breaking through the 3950-3960 area, it accelerated its rise to above 3980!
💎Profitability: 100%
🙋♂️Did you capitalize on the rebound opportunity using the trading strategy above?
✅I share real-time insights, entry zones & trading logic
⭐️Cycles, structure, psychology & smart money footprints.
💎Learn to trade smart, not emotional.
🌐Join my Telegram group:t.me/Bear_Bull_Arena
⭐️Cycles, structure, psychology & smart money footprints.
💎Learn to trade smart, not emotional.
🌐Join my Telegram group:t.me/Bear_Bull_Arena
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.
✅I share real-time insights, entry zones & trading logic
⭐️Cycles, structure, psychology & smart money footprints.
💎Learn to trade smart, not emotional.
🌐Join my Telegram group:t.me/Bear_Bull_Arena
⭐️Cycles, structure, psychology & smart money footprints.
💎Learn to trade smart, not emotional.
🌐Join my Telegram group:t.me/Bear_Bull_Arena
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.