Gold analysis intraday 1
Continuing the gold analysis intraday, I want to introduce two potential scenarios that could unfold in the gold market. Please refer to the attached images for a visual representation.
Scenario 1: Bullish Momentum
In the first 
scenario, if the price of gold successfully breaks above the 2040 level, it could trigger a strong bullish momentum. This scenario suggests an extended uptrend, and in such a case, I plan to capitalize on the upward movement. The flat pattern observed in the chart might evolve into a powerful C-wave structure, leading to a prolonged buying opportunity.
Scenario 2: Bearish Correction
On the other hand, in the second scenario, if the price faces resistance at the 2040 level and starts a correction, I will closely monitor the price action. The flat pattern within the box could signify a corrective phase, and I will be prepared for a potential downward movement. It’s crucial to be adaptive to market conditions and adjust the strategy accordingly.
Both scenarios present unique opportunities, and it’s essential to stay vigilant and agile in response to the evolving market dynamics. While technical analysis provides insights, it’s important to remember that trading always involves risks, and no strategy guarantees 100% success.
I will share these scenarios and images on my website as part of my gold technical analysis, offering a comprehensive view of potential market movements and trading plans.
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