Xauusd (GOLD): I am thinking to short positions
Updated
hello guys!
let's analyze GOLD
Liquidity Hunted:
The chart highlights a liquidity grab near the recent high (marked as hunted), where the price spiked above resistance before reversing sharply.
Downtrend Movement:
Gold has shown strong bearish momentum, breaking below a rising trendline and key support levels.
A continuation toward the gray demand zone around $2,585–$2,595 is likely.
Key Demand Zone:
The gray highlighted area is the next potential support, where buyers may step in to halt the decline.
Scenarios:
Scenario 1: If the price respects the demand zone, a short-term bullish rebound towards $2,620–$2,630 can occur.
Scenario 2: Failure to hold the demand zone could push Gold further down toward the blue support area near $2,539–$2,535.
Conclusion:
Gold is currently bearish, with a strong possibility of reaching the demand zone at $2,585–$2,595. Traders should monitor this level for signs of a reversal or continuation, with $2,539 as the next downside target if support fails.
let's analyze GOLD
Liquidity Hunted:
The chart highlights a liquidity grab near the recent high (marked as hunted), where the price spiked above resistance before reversing sharply.
Downtrend Movement:
Gold has shown strong bearish momentum, breaking below a rising trendline and key support levels.
A continuation toward the gray demand zone around $2,585–$2,595 is likely.
Key Demand Zone:
The gray highlighted area is the next potential support, where buyers may step in to halt the decline.
Scenarios:
Scenario 1: If the price respects the demand zone, a short-term bullish rebound towards $2,620–$2,630 can occur.
Scenario 2: Failure to hold the demand zone could push Gold further down toward the blue support area near $2,539–$2,535.
Conclusion:
Gold is currently bearish, with a strong possibility of reaching the demand zone at $2,585–$2,595. Traders should monitor this level for signs of a reversal or continuation, with $2,539 as the next downside target if support fails.
Trade active
the level is starting to break down the support area and dumping!
Note
the gray area touched:
and then the price reacted to the gray area as I expected!
now it is a downward movement turn again!
👉 my broker:: bit.ly/HYMCMELI
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👉 my exchange: bit.ly/LbankMeli
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👉 my Autotarder: bit.ly/btse
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telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
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