RLinda Trading

Professional trader with more than 12 years of experience in Forex, gold and cryptocurrency markets, including work with various exchanges, brokers and market makers, a large amount of theoretical and practical knowledge. With these capabilities in mind, we offer you the best signal provider service. Best forex signals, crypto signals and accurate gold signals will allow you to become a winner in trading
R.Linda Trading - forecast

Trading signals for #GOLD → Possible scenarios for the situation

GOLD Forecast
GOLD still looks quite bearish. The bulls continue to hold the 1939 level and then we are reminded of the Market Maker traps. What could happen?

We continue to see a strong consolidation, which is formed by dynamic sellers and limit buyers, who put limit orders in the 1939 area (there was a false breakout earlier).

There is a huge volume of liquidity, and a breakthrough on one side of the range will form a strong surge of volatility and volume.
Below I would like to offer some scenarios, which, in my opinion, are relevant at the moment:
Everything depends on how the price behaves near one of the key levels.

It could be a rebound, a breakout, or a false breakout, but at the moment I look at gold as an instrument that is getting ready to fall

Support levels: 1947, 1939

Resistance levels: SMA50, range resistance, SMA200

I expect that resistance will affect the price predictably and we will see the price continue to fall to 1939 followed by the possibility of a support breakout.