GOLD Sell Zone
A potential selling opportunity has been identified in Gold, with a sell entry between 3037 and 3040.
*Sell Entry:* 3037 - 3040
*Target Levels:*
- _TP1: 3027_
- _TP2: 3017_
- _TP3: 3000_
- _TP4: 2981_
*Stop-Loss:* 3063
*Reasons to Sell:*
1. *Resistance Zone:* Gold has reached a strong resistance zone between 3037 and 3040.
2. *Overbought Conditions:* Gold's RSI indicator is showing overbought conditions.
3. *Potential Reversal:* A reversal in Gold's price could be imminent, given the recent rally.
*Market Context:*
Gold prices are consolidating after reaching a record high, with investors cautious ahead of the US Federal Reserve's monetary policy announcements. A hawkish decision could lead to a sharp correction in gold prices.
*Federal Reserve Decision:*
The Fed is widely expected to extend the pause to its interest-rate-cutting cycle in March. However, any hints of a further extension of the pause, or fewer rate cuts this year, could trigger a sharp correction in gold prices.
*Geopolitical Tensions:*
Persisting tensions, such as the Israel-Gaza conflict and Ukraine-Russia tensions, may cap any downside in gold prices.
*Trading Strategy:*
Sell Gold between 3037 and 3040, with a stop-loss at 3063. The TP levels can be used to take profits or adjust the stop-loss to break-even.
Keep your best wishes to Travis 👍
A potential selling opportunity has been identified in Gold, with a sell entry between 3037 and 3040.
*Sell Entry:* 3037 - 3040
*Target Levels:*
- _TP1: 3027_
- _TP2: 3017_
- _TP3: 3000_
- _TP4: 2981_
*Stop-Loss:* 3063
*Reasons to Sell:*
1. *Resistance Zone:* Gold has reached a strong resistance zone between 3037 and 3040.
2. *Overbought Conditions:* Gold's RSI indicator is showing overbought conditions.
3. *Potential Reversal:* A reversal in Gold's price could be imminent, given the recent rally.
*Market Context:*
Gold prices are consolidating after reaching a record high, with investors cautious ahead of the US Federal Reserve's monetary policy announcements. A hawkish decision could lead to a sharp correction in gold prices.
*Federal Reserve Decision:*
The Fed is widely expected to extend the pause to its interest-rate-cutting cycle in March. However, any hints of a further extension of the pause, or fewer rate cuts this year, could trigger a sharp correction in gold prices.
*Geopolitical Tensions:*
Persisting tensions, such as the Israel-Gaza conflict and Ukraine-Russia tensions, may cap any downside in gold prices.
*Trading Strategy:*
Sell Gold between 3037 and 3040, with a stop-loss at 3063. The TP levels can be used to take profits or adjust the stop-loss to break-even.
Keep your best wishes to Travis 👍
Trade attivo
Our first tp hit guys
Nota
Our 3rd tp is about to hit guys. Bearish is still on the way 🔥🔥🔥
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.