Gold prices have now perfectly reached the short-selling target range predicted by Quaid.
The current 4-hour chart clearly shows that gold's current resistance level remains around 3385.
Looking at the shorter 15-minute chart, gold has been slowly rising within an upward channel today. The resistance level of 3385 has not been effectively broken, and there is a high probability of a further pullback to test the 15-minute trendline.
Currently, 15-minute trendline support remains around 3355-3360. Focus on this support range in the short term, as it also represents a profit-taking opportunity after shorting at the 3385 high. This level can also be considered a watershed between bulls and bears. If the price pulls back to this level and does not continue to decline, there is a high probability of another upward move at this level.
However, if it falls below the 3350 trendline, the market will enter a downward trend.
Good luck to everyone in the new week.
The current 4-hour chart clearly shows that gold's current resistance level remains around 3385.
Looking at the shorter 15-minute chart, gold has been slowly rising within an upward channel today. The resistance level of 3385 has not been effectively broken, and there is a high probability of a further pullback to test the 15-minute trendline.
Currently, 15-minute trendline support remains around 3355-3360. Focus on this support range in the short term, as it also represents a profit-taking opportunity after shorting at the 3385 high. This level can also be considered a watershed between bulls and bears. If the price pulls back to this level and does not continue to decline, there is a high probability of another upward move at this level.
However, if it falls below the 3350 trendline, the market will enter a downward trend.
Good luck to everyone in the new week.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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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.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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.