GOLD Prints New Lows — Is There More Downside Ahead?
🥇 $XAU — Monthly
Gold is also experiencing significant selling pressure.
Price is trading around $3,922, having printed a fresh low around $3,919 on the displayed monthly chart.
The previous recovery has been heavily rejected, and buyers are struggling to regain control.
What I'm watching:
- Bullish scenario: Buyers defend the current low, produce a meaningful rejection and reclaim lost structure.
- Bearish scenario: Continued selling and a monthly close below the current low would strengthen the case for further downside.
Remember, the monthly candle is still developing. We need confirmation, not assumptions.
*Selling pressure is dominating.
I am not interested in catching falling knives, nor am I interested in chasing red candles.
I want to see liquidity sweeps, rejection, displacement and a confirmed change of structure before considering an entry.
#XAU
#UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax #Market_Update
🥇 $XAU — Monthly
Gold is also experiencing significant selling pressure.
Price is trading around $3,922, having printed a fresh low around $3,919 on the displayed monthly chart.
The previous recovery has been heavily rejected, and buyers are struggling to regain control.
What I'm watching:
- Bullish scenario: Buyers defend the current low, produce a meaningful rejection and reclaim lost structure.
- Bearish scenario: Continued selling and a monthly close below the current low would strengthen the case for further downside.
Remember, the monthly candle is still developing. We need confirmation, not assumptions.
*Selling pressure is dominating.
I am not interested in catching falling knives, nor am I interested in chasing red candles.
I want to see liquidity sweeps, rejection, displacement and a confirmed change of structure before considering an entry.
#XAU
#UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax #Market_Update
