possible drop based on this strategy

Gold had strong momentum upward pressure from new year.

and have been in bull trend since November 2022 with no

significant correction.

I believe price still has space to go up however a short term correction

is not out of interest.

based on my strategy the blue area and baseline around 1940$ would be

our judgment base , above the baseline is more bullish below the blue area is more bearish.

now if the price breaks and close below the local trend line has more chance for more drop.

although still the blue area could be tested one more time.




Enjoy the market

Trade active:

remember price on 4H didn't closed below the line and didn't confirm drop. so make sense to pull back upward.

Comment:

I believe around 1940 market can reverse, however if the price closed above the baseline. in bull scenario our next resistant level targets are on this chart.

Trade active:

don't forget baseline is our key level to drop or rise.

Trade closed: target reached:

after closing below the baseline.