Gold- Correction or continuation?

20 thg 8Yesterday, gold corrected Friday's strong upward move and dropped precisely into my buy zone. A recovery followed, with the uptrend resuming; however, the price was unable to surpass the recent all-time high (ATH) and began to decline again.

While there is a possibility that a double-top pattern could be forming, this has not been confirmed, and the overall trend remains strongly bullish.
In my opinion, bulls have little to worry about as long as the price stays above the 2480-2485 zone.
Buying on dips should continue to be the strategy.

20 thg 8

Giao dịch đang hoạt động

Gold is making ATH again

20 thg 8

Đóng lệnh: đạt mục tiêu

2525 target reached.
Closed half and moved stop in break even
Next target 2540

20 thg 8

Bình luận

Closed all my trade.
Looks like topping patten
However, is not recommended to sell

20 thg 8

Giao dịch đang hoạt động

Strong reversal during the day after the 2530 high.
As long as 2530 is intact, short trades are favored
Drop under 2505-2510 would bring confirmation and could accelerate losses