📌Weekly: Left Chart From a long-term perspective, Gold appears to be confined within a range, currently nearing its upper boundary.
As long as the 2100.0 resistance holds, the possibility of a bearish correction persists. Confirmation of a bearish reversal setup would depend on lower timeframes.
📌H1: Right Chart From a short-term perspective, the Gold market structure has been clean lately.
Every time a low or high is broken, it signals a short-term trend reversal.
If we follow the same logic, the bulls are currently in control.
For the bears to take over, a break below the last low highlighted in red is needed. In this case, we anticipate a bearish movement till the 1985.0 demand zone.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Richard Nasr