Gold Price Action: Why I Took Profits Early

6 Mar

Yesterday, gold initially dropped below 2900, briefly testing the 2895 zone as support before reversing sharply to the upside.

Although I had a sniper entry with a 500-pip profit target, I chose to close my trade with a 250-pip profit instead.
The reason for this decision is the strong resistance between 2920 and 2930, along with multiple barriers extending toward 2940.

Looking ahead, a breakdown below 2910 would confirm my slightly bearish bias and could trigger a new leg downward.

For now, I’m staying out of the market, waiting for confirmation of my bearish outlook before initiating sell positions.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.

6 Mar

İşlem aktif

As correctly anticipated, Gold can t pass above resistance zone
I m focusing on selling as explained