XAUUSD Shorts! > 1970
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Despite some bullish movements at current levels that fall short of impressing, a cautious negative perspective is still in place. Such market dynamics frequently arise around important levels, leading to the speculative claim that a market top may be approaching soon. However, care is required, therefore extremely tight stop-loss orders are placed in relation to possible rewards.
There might be a big move of about 450–1000 pip, and even though there are brief periods of positive activity, I believe the bias is still towards the negative.
While there's still the possibility of the asset reaching new all-time highs (ATH), it's anticipated that a preliminary dip towards the 2010 region may occur. This could draw buy orders and provide new impetus, hence setting our first take-profit (TP1) at that level. Failure to find buyers at TP1 could lead to a further decline towards the next objective at 1970.
Given the critical nature of the market's current state, ongoing analysis is imperative to adapt to any shifts in sentiment swiftly. Remember to conduct thorough due diligence (DD) and stay informed!
There might be a big move of about 450–1000 pip, and even though there are brief periods of positive activity, I believe the bias is still towards the negative.
While there's still the possibility of the asset reaching new all-time highs (ATH), it's anticipated that a preliminary dip towards the 2010 region may occur. This could draw buy orders and provide new impetus, hence setting our first take-profit (TP1) at that level. Failure to find buyers at TP1 could lead to a further decline towards the next objective at 1970.
Given the critical nature of the market's current state, ongoing analysis is imperative to adapt to any shifts in sentiment swiftly. Remember to conduct thorough due diligence (DD) and stay informed!
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