GOLD ANALYSIS 6TH NOV
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Gold Technical Analysis Update
Gold has recently tested and reacted to a significant demand zone, with price action closing below the previous support, now acting as resistance. This breakdown is supported by clear confirmations on both the 4-hour and 1-hour time frames, where price has decisively closed and held below the support level.
Given this setup, there’s potential for a continuation to the downside, possibly reaching the swing low as price seeks liquidity by targeting buyer stop-losses. This setup offers a favorable opportunity for a short position, with a target near the swing lows.
Trade Idea:
Position: Short
Target: Swing lows
Confirmation: Ensure clear price action confirmation before entry.
Follow for more refined trade setups and insights. Remember, trade with a strategy and manage risk carefully.
Gold has recently tested and reacted to a significant demand zone, with price action closing below the previous support, now acting as resistance. This breakdown is supported by clear confirmations on both the 4-hour and 1-hour time frames, where price has decisively closed and held below the support level.
Given this setup, there’s potential for a continuation to the downside, possibly reaching the swing low as price seeks liquidity by targeting buyer stop-losses. This setup offers a favorable opportunity for a short position, with a target near the swing lows.
Trade Idea:
Position: Short
Target: Swing lows
Confirmation: Ensure clear price action confirmation before entry.
Follow for more refined trade setups and insights. Remember, trade with a strategy and manage risk carefully.
Đóng lệnh: đạt mục tiêu
tp done liquidty sweep done
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