Gold's Crucial Test: Break Below $2930 for a Bearish Shift?

4 giorni fa

hello guys!
as I published before:

the downward movement didn't happen as I expected!
in return the top line of pattern breakout! if this candle close lower than $2930.24 area then this scenario will happen!

1-Triangle Formation with Key Level at $2930.24
Gold is consolidating within a triangle pattern, with the top line acting as resistance and the bottom line as support.
$2930.24 is the key level to watch. If the price closes below this level, it could signal a breakdown from the triangle.

2-Support Areas to Watch:
If the breakdown happens, the first support area near $2923 will be tested.
A further drop could lead to the next support area around $2899.

3-Bearish Scenario:
A close below $2930.24 would suggest a shift in momentum, likely leading to a deeper correction and testing the support levels below.

Conclusion:
If Gold fails to hold above $2930.24, expect a bearish move with the potential for further declines to $2899. Watch this level closely for confirmation!

3 giorni fa

Trade chiuso manualmente

the candle didn't close below than the breakout candle so this scenario become invalid