GOLD COLLAPSES AFTER HITTING 2940 – TREND REVERSAL AHEAD?

🚨Gold reached 2940, but faced a strong rejection, leading to a sharp drop below 2910. Currently, the price is testing this critical level, and its movement during the European session will determine the next directional bias.

📊 Key Market Insights✔ Breakdown from the ascending channel – A potential reversal signal.✔ Bearish momentum? If GOLD fails to reclaim 2910, further downside pressure is expected.

📉 Check the latest GOLD chart analysis:🔗 https://www.tradingview.com/x/N6xoNydh/

 🎯 GOLD Trading Plan🔴 SELL SCALP (Short-term Setup)📍 Entry: 2929 - 2931❌ SL: 2935🎯 TP: 2924 - 2920 - 2915 - 2910 - 2905 - 2900

🔴 SELL ZONE (Major Resistance for Shorts)📍 Entry: 2940 - 2942❌ SL: 2946🎯 TP: 2935 - 2930 - 2926 - 2922 - 2918 - 2915 - 2910

🟢 BUY ZONE (Major Support for Longs)📍 Entry: 2887 - 2885❌ SL: 2882🎯 TP: 2890 - 2894 - 2898 - 2902 - 2905 - 2910

 📌 Risk Management & Trading Considerations✔ Stick to TP/SL to manage risk and avoid unnecessary drawdowns.✔ Price action around 2910 will be critical in determining trend continuation or reversal.✔ Market volatility could increase in the European session – stay cautious with trade execution.

📢 Do you think GOLD will break down further or rebound from this level? Let’s discuss below! 🚀🔥

Hard to predict accurately given Trump's spontanteous actions.Just trade the short term trend for now, I suppose. 

Today we will have CPI data and wait to see how the price reacts to the current trend. Agree that Trump's statements will have an impact, but we are scalpers so we will quickly process each signal daily.

It reached 2940 but has come down to 2931

It has reached ATH on Feb 19th at $2,947.23 and currently at the resistance level of $2940! Will we see a upward trend? 

Gold is testing the critical 2910 level, and how it reacts during the European session will be crucial for determining the next move. If it fails to reclaim 2910, a further decline is possible, with 2900 as a target. However, a rebound from 2887-2885 could offer buying opportunities. Given the volatility expected, staying cautious and using tight stop losses is key. What’s your take — will gold break down further or bounce back from here?

It recently went to an all time high... I am not sure what is going to happen next. Tariffs, peace talks, so many things are going on