As you know from my previous posts and videos, I'm strongly bearish on 
XAUUSD .
However, in my analysis yesterday, I mentioned that after such a significant drop on Friday, a correction is possible.
Indeed, after a double tap on the 2290 zone support, gold started to reverse and reached an intraday high of 2315.
There is still the possibility of a new leg of correction, which could provide bears with a good entry point for the future drop.
A good zone to watch for short entry signals is slightly above 2320.
My medium-term target remains the 2200 zone, and only sustained buying above 2350 would change my outlook.
XAUUSD . However, in my analysis yesterday, I mentioned that after such a significant drop on Friday, a correction is possible.
Indeed, after a double tap on the 2290 zone support, gold started to reverse and reached an intraday high of 2315.
There is still the possibility of a new leg of correction, which could provide bears with a good entry point for the future drop.
A good zone to watch for short entry signals is slightly above 2320.
My medium-term target remains the 2200 zone, and only sustained buying above 2350 would change my outlook.
Note
As explained in the morning, a new leg of correction is probableGold is approaching my sell zone for medium-term trade already
I will start to look for signs of weakness
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.