Sell Ideal - GOLD / XAUUSD
Sell Ideal - GOLD / XAUUSD
Gold Spot (XAUUSD) FXOPEN:XAUUSD
FroggyFX
GOLD / XAUUSD
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In anticipation of potential weakness in the asset, adopting a patient stance is recommended. While a final rally into the $2,400 range seems unlikely at this time, the possibility remains.
However, in addition to remaining vigilant, being prepared to sell the asset is crucial. There may be an attempt to test the commitment of buyers who expressed interest at the $1,800 level at the end of February 2024, potentially supporting earlier buyers. If this scenario unfolds, the $2,000 level will be a key support protected by buyers.
A possible strategy for shorting this asset is to sell upon rejection at the top of the local range (marked in purple on the chart) at $2,369 - $2,371, or when a bearish momentum candle appears, whichever occurs first, for an early entry.
Heed your DD!
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