Gold Price Analysis: Bearish Breakdown with Potential Recovery

3 lut

This chart is a 1-hour time frame of Gold CFDs (US/OZ)
Key Observations:

1. Current Price: The market is trading at $2,779.935, showing a -0.63% decline.


2. Resistance & Support Levels:

Resistance Zone (Green Box at the top): Around $2,795 - $2,801.

Support Zone (Green Box at the bottom): Around $2,728 - $2,740.



3. Trendlines & Patterns:

ABC Pattern: A corrective wave structure is visible:

(A) - Initial Uptrend

(B) - Continuation Higher

(C) - Market Reversal Downward


Bearish Breakdown: After reaching the peak at (C), the price broke below an upward trendline (blue).



4. Potential Price Movements (Forecasted Scenarios):

Bearish Move (Red Arrow & Box): A downward move is expected, targeting the lower support zone (~$2,740).

Bullish Recovery (Upward Arrow): If support holds, a possible recovery towards $2,795 - $2,801 could occur.




Conclusion & Trading Strategy:

Bearish Bias: If price stays below $2,784, a further decline towards $2,740 is likely.

Bullish Recovery: A strong rejection from $2,740 could push the price back up to $2,795+.

Key Levels to Watch: $2,784 (minor resistance) and $2,740 (major support).

4 lut

Zlecenie zamknięto ręcznie

"My analysis was only halfway complete, and the market pulled back strongly to the buy position. I advise my followers to avoid taking high risks. True professional traders are those who protect their profits, always secure their positions with break-even or stop-loss levels, and trade with discipline."