XAUUSD shorts approaching entry.
On the chart we have marked up my prediction for Gold. Awaiting a retracement to the marked supply zone to continue the sell-off first towards 1490 then 1440 and beyond.
Trade safe & manage risk.
very very peculiar sentiment on gold .
if we precisely analyze the price action from the beginning of summer,
we will notice with you that the market was trading in a sharp bullish trend
and, what is crucially important, without correction.
From September, however, the picture has started to change.
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We are gearing up for another 500+ pip week, dont miss out.
Price is respecting key levels and trends really well...
After breaking the 1480 support, gold quickly rally above it and has been facing selling pressure for the past 2 days. There is possibility of gold retesting 1480 level again before witnessing a rally out of the upper wedge.