Gold futures gained fresh upward momentum today, climbing to yet another new high. The price is now trading well inside our red Short Target Zone, which ranges from $5,416 to $6,362.
We will take Profits here on ALL Gold longs and maybe even open a short.
We do have a bit of room left inside the target zone, but as soon as the upwards momentum comes to a halt, we anticipate the completion of the larger green wave [w], which should trigger a significant reversal to the downside. Accordingly, we are preparing for a major decline phase—starting with a break below the support levels at $4,197 and $3,901.
Traders looking to capitalize on this move can consider short entries within our red Target Zone. For risk management, a stop can be placed 1% above the upper edge of the zone.
We will take Profits here on ALL Gold longs and maybe even open a short.
We do have a bit of room left inside the target zone, but as soon as the upwards momentum comes to a halt, we anticipate the completion of the larger green wave [w], which should trigger a significant reversal to the downside. Accordingly, we are preparing for a major decline phase—starting with a break below the support levels at $4,197 and $3,901.
Traders looking to capitalize on this move can consider short entries within our red Target Zone. For risk management, a stop can be placed 1% above the upper edge of the zone.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
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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.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
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.