Analyzing the H1 timeframe suggests that gold may soon experience a decline back towards the support level at 2298. Notably, the current resistance level was once a robust support level. The decisive breakout signals gold's intention to sustain its downtrend. Therefore, I intend to capitalize on this opportunity with a swing sell. Are there many who share my...
Based on my observations, the current resistance used to be a strong support on the daily timeframe. A solid breakout indicates that the price is now moving towards a new level. I'm targeting this 2332 resistance as the golden zone for us to swing short towards the support at 2299.
Show your support with likes and comments.
Best regards, Zack
If we observe closely, gold is currently reacting to the resistance zone, heading back towards support at the price of 2300. This support also represents a solid Resistance Become Support (RBS) Zone. I'll be going long when the price returns to this support level.
Show your support with likes and comments.
Best regards, Zack
I've been patiently waiting for the price to break out of this highest resistance zone. Now, the structure is much clearer than before with just sideways movement. My plan is to go long when the price retraces or pulls back into the resistance zone that has been broken out. Yes, it's an RBS Zone.
Breakout, Pullback, and Entry? Are you on board with this...
