Last week I mentioned that if Gold broke above 3380, the 3400 level would not be an obstacle and we could see acceleration towards 3450 and even 3500.
✅ On Friday, Gold reached my target at 3450.
✅ Last night, the market printed a new ATH above 3500.
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Key Question:
After 6 straight days of almost vertical rise, is a correction finally coming?
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Why a Correction Is Likely:
• Gold has risen more than 1,000 pips in just few days.
• Every intraday dip has been bought aggressively – a sign of exhaustion risk.
• Technically, support zones are now visible at 3470 and 3450.
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Trading Plan:
Selling here is very risky against such a strong trend. Instead, the strategy is simple:
👉 Wait for the correction.
👉 Look to buy dips.
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Conclusion:
My preferred approach remains buying dips, as the uptrend is still powerful. Gold could easily continue its rise above 3500 in the next few days. 🚀
📈 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.