I'm expecting gold to come down into low $3300 levels or even slightly below. We can see the volume has been on a steady decline ever since the initial low at $2960 followed by the peak at $3500, this suggest we may see a sweep of the last major highs at $3415 and $3435 before we see any major volume spikes coming in, causing gold to drop. Regardless of whether these highs get taken out before or after the $3300 orderblock is retested, a break of any of these high would provide good shorting opportunities for even up to 1000 pips or more. Then it's still very dependant on the fundamentals if gold will continue into new ATHs or drop back down to fill the imbalance around $3000 level.
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.
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.