The fall of gold stops in the area of strong liquidity zone, which is below the level of 1869. A retest is formed, which forms a "Double Bottom" pattern. What's next?
The price has moved into a consolidation phase, as evidenced by the volume profile area. The price is forming a double bottom, which could hold the price, unless of course further fundamental prospects force gold to go lower.
I expect the price may consolidate between resistance 1879 and support 1869 (1863). In that case, buying and selling are possible.
But there is a key risk zone for long positions, when the resistance of 1879 will be broken and a consolidation above the level will form. In this case there will be a chance of movement to the area of 1900.
Regards, R.Linda!
The price has moved into a consolidation phase, as evidenced by the volume profile area. The price is forming a double bottom, which could hold the price, unless of course further fundamental prospects force gold to go lower.
I expect the price may consolidate between resistance 1879 and support 1869 (1863). In that case, buying and selling are possible.
But there is a key risk zone for long positions, when the resistance of 1879 will be broken and a consolidation above the level will form. In this case there will be a chance of movement to the area of 1900.
Regards, R.Linda!
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(don't copy, click on the links!)
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.