Gold_Gain_Analysis

Gold remains stagnant, unable to breach the critical resistance at 2330. The market lacks momentum, prompting us to adjust our strategy promptly. We opt to enter the market directly with short orders around the 2320 mark. Despite three attempts, the k-line has failed to surpass the 2330 mark. Over the span of an hour, it remained subdued by the middle track of the Bollinger Bands, signaling potential profitability with short positions. The daily cycle alternates between bullish and bearish trends, with a discernible oscillation pattern. The lower support level hovers around 2300, serving as the target for short positions.

Gold's 1-hour moving average continues its downward trajectory, indicating a potential short position. Although there was a brief rebound, Gold quickly retracted after a momentary surge. Bulls are inactive, giving bears the upper hand in market control. If Gold crosses the 2281 mark once, it's poised to plummet further.

Gold recently broke its previous trendline channel and is now retracing back towards it. We anticipate a subsequent downtrend once the retracement concludes. Our analysis suggests that the price might form a Quasimodo pattern, with a potential consolidation around the 2330-2337 range before declining towards the minimum target level of 2282.

Gold met our expectations, dipping to 2300 and bottoming out at 2293, favoring short positions. Today, we capitalized on the trend, shorting near 2323, hitting our profit target successfully. Congratulations on another winning trade! Currently hovering around 2296, gold bounced back from 2293 after its initial dip. While many may be tempted to continue shorting below 2300, I advise against it. Instead, let's consider gradually shifting towards long positions below this threshold