The current market context on GOLD seems undecided and heavily influenced by news release and macroeconomic catalysts. The recent reversal from the support was pretty decisive, catching short-sellers off guard and forcing them to cover positions.
However, the structure has yet to produce a clean breakout beyond the mid-range, suggesting a lack of strong conviction from either side.
The probability of a pause or reversal here under this circumstances may increase substantially as well. But if I were to take a side I would definitely choose more upside, before any correction begins.
This is a high-risk zone for positioning without confirmation. The market is potentially preparing for a breakout or a fakeout, and patience is key. Wait for clear signs of intent before committing.
However, the structure has yet to produce a clean breakout beyond the mid-range, suggesting a lack of strong conviction from either side.
The probability of a pause or reversal here under this circumstances may increase substantially as well. But if I were to take a side I would definitely choose more upside, before any correction begins.
This is a high-risk zone for positioning without confirmation. The market is potentially preparing for a breakout or a fakeout, and patience is key. Wait for clear signs of intent before committing.
Trade active
Free Telegram Signals: t.me/addlist/MLJjjTl2V-M1OTc8
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 My favorite broker - go.tradenation.com/visit/?bta=37381&brand=tradenation
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 My favorite broker - go.tradenation.com/visit/?bta=37381&brand=tradenation
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.
Free Telegram Signals: t.me/addlist/MLJjjTl2V-M1OTc8
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 My favorite broker - go.tradenation.com/visit/?bta=37381&brand=tradenation
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 My favorite broker - go.tradenation.com/visit/?bta=37381&brand=tradenation
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.