Regarding the trend resistance XAU we observe a retest, if we pay attention to the volumes, they are absent. What is the probability of a short-squeeze in such a case?
The market may go from local downward movement to a sideways phase, as evidenced by the unclear market environment and global flat trading in the whole forex.
The new range in gold could be: 2035-2020, or 2060-2020.
There is an important resistance ahead - 2035, which may be of interest to the market maker because there is a huge pool of liquidity above it, which can be determined by the volume profile.
Resistance levels: 2035, 2039.4
Support levels: 2020, 2010
At the moment it is worth looking at the resistance at 2035 and 2039.4.
* A false break of the lower one will generate signals for the continuation of the range formation. In this case, the price will head towards the support.
* But a breakthrough and price consolidation above 2039.4 will form a signal for the continuation of growth to 2040-2060.
Regards R. Linda!
Trading ditutup: target tercapai:
Falling after a false breakdown
The move gives us almost +160 pips
The first target of 2020 has been reached
Falling after a false breakdown
The move gives us almost +160 pips
The first target of 2020 has been reached
Komentar:
Komentar:
After a false breakout of resistance the market may get a new target in the form of 2010 support
Price continues to form a range.
After a false breakout of resistance the market may get a new target in the form of 2010 support
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False breakdown 2035
Short-squeeze amid lack of volumes
as a result - a strong drop of 140 pips