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Gold will drop from resistance line of triangle to 3310 pointsHello traders, I want share with you my opinion about Gold. The market for Gold is currently defined by a large symmetrical triangle, a pattern of equilibrium that has formed after a strong rebound from the 3290 buyer zone halted the previous downward trend. This new market structure indicates a period of contracting volatility, with the price action for XAU being methodically squeezed between a descending resistance line and an ascending support line. These boundaries are anchored by the major seller zone around the 3400 resistance level and the aforementioned 3290 buyer zone. At present, the asset is at a critical inflection point, having rallied to test the descending resistance line of this triangle. The primary working hypothesis is a short scenario, based on the expectation that the 3400 seller zone will hold and that sellers will re-emerge to defend this territory. A confirmed rejection from this upper boundary would validate the integrity of the symmetrical triangle and likely initiate another major downward rotation within the pattern. This fall would target the ascending support line and the underlying horizontal support. Therefore, the TP for this rotational play is logically placed at 3310 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
16
CHFJPY / GBPUSD / EURGBP Trade Recaps 22.08.25A tester trade on CHFJPY with the reasons explained as to why this was a test position, a long position executed on GBPUSD, a solid setup that this time around just didn't commit. And lastly a long position on EURGBP playing the failure of sell structure and getting involved in the buys. Full explanation as to why I executed on these positions and the management plan with all three. Any questions you have just drop them below 👇
by JordanWillson
13