XAUUSD: Two bearish + one bullish scenarios for the GOLD!
Hello traders,
Bearish Scenarios:
Reversal from All-Time High:
A potential bearish scenario involves a reversal from the all-time high.
Target Profit (TP): Around 2027, indicating a potential retracement from the recent peak.
Breaking Below 1968.450:
Another bearish scenario is a break below the key support level at 1968.450.
Target Profit (TP): Bottom of the bullish channel, representing a potential extended downtrend.
Bullish Condition:
Any breaks above 2157 could signify a shift to more bullish market conditions.
Fundamental Consideration:
Be mindful of potential impacts from USA news on the gold market. Economic and geopolitical events may introduce volatility.
Trade Setup:
Bearish Reversal:
If there's a bearish reversal from the all-time high, consider short positions with a target near 2027.
Breaking Below 1968.450:
If the price breaks below 1968.450, look for short opportunities with a target at the bottom of the bullish channel.
Bullish Break Above 2157:
If the price breaks above 2157, this could signal a potential shift to a more bullish trend. Consider long positions with a suitable risk-reward ratio.
Bearish Scenarios:
Reversal from All-Time High:
A potential bearish scenario involves a reversal from the all-time high.
Target Profit (TP): Around 2027, indicating a potential retracement from the recent peak.
Breaking Below 1968.450:
Another bearish scenario is a break below the key support level at 1968.450.
Target Profit (TP): Bottom of the bullish channel, representing a potential extended downtrend.
Bullish Condition:
Any breaks above 2157 could signify a shift to more bullish market conditions.
Fundamental Consideration:
Be mindful of potential impacts from USA news on the gold market. Economic and geopolitical events may introduce volatility.
Trade Setup:
Bearish Reversal:
If there's a bearish reversal from the all-time high, consider short positions with a target near 2027.
Breaking Below 1968.450:
If the price breaks below 1968.450, look for short opportunities with a target at the bottom of the bullish channel.
Bullish Break Above 2157:
If the price breaks above 2157, this could signal a potential shift to a more bullish trend. Consider long positions with a suitable risk-reward ratio.
