$GOLD.US is showing a realistic bearish rejection setup after a sharp downside move and growing macro pressure on precious metals. Gold was trading around the $4,358–$4,400 area today after U.S. inflation data strengthened rate-hike expectations, so a pullback toward your 4,461 sell zone is more realistic than chasing the move lower.
EP: $4,455–$4,461
TP1: $4,420
TP2: $4,350
TP3: $4,277
SL: $4,469
The $4,461 area can act as a rejection/liquidity zone if buyers reclaim it only temporarily and sellers step back in. The setup is invalidated on a sustained break and acceptance above $4,469; because the market has already dropped sharply, waiting for the pullback/rejection is preferable to entering short at the lows.
#SECApprovesNasdaqTexasCommodityTrustRule #SECApprovesNasdaqTexasCommodityTrustRule #AppleDebutsFoldablePhone
EP: $4,455–$4,461
TP1: $4,420
TP2: $4,350
TP3: $4,277
SL: $4,469
The $4,461 area can act as a rejection/liquidity zone if buyers reclaim it only temporarily and sellers step back in. The setup is invalidated on a sustained break and acceptance above $4,469; because the market has already dropped sharply, waiting for the pullback/rejection is preferable to entering short at the lows.
#SECApprovesNasdaqTexasCommodityTrustRule #SECApprovesNasdaqTexasCommodityTrustRule #AppleDebutsFoldablePhone
