After the break under 1915 important confluence support that I've spoken about, XauUsd dropped like a stone, with a drop counting 1000 pips.
Although most of us expected some correction after, Gold started to consolidate instead and bulls were unable to elevate the price to confirm the last broken support level at 1855 (at least so far)
The price action from Tuesday looks like it wants to form a "drop-base-drop" pattern and a break of 1810 zone would confirm this scenario.
In such an instance traders could expect a new wave of strong selling and the new led down could lead to a drop at 1730 zone support.
In any case, Gold remains strongly bearish as long as the price is under 1855
Although most of us expected some correction after, Gold started to consolidate instead and bulls were unable to elevate the price to confirm the last broken support level at 1855 (at least so far)
The price action from Tuesday looks like it wants to form a "drop-base-drop" pattern and a break of 1810 zone would confirm this scenario.
In such an instance traders could expect a new wave of strong selling and the new led down could lead to a drop at 1730 zone support.
In any case, Gold remains strongly bearish as long as the price is under 1855
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎Get Funded Up to $1 Million with SabioTrade
Use my exclusive link and get 30% OFF your challenge.
👉shorturl.at/b5yyz
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎Get Funded Up to $1 Million with SabioTrade
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👉shorturl.at/b5yyz
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.