<p class=“text-align-start“>Did you spot the triple top in <a target=“_blank“ href=“https://www.forexlive.com/terms/g/gold/“ class=“terms__main-term“ id=“c0483026-a32e-4e25-8e74-f808d52790c3″>gold</a>’s price, along with its struggle to break past the 2000 mark? If a high-reward, low-probability trading opportunity piques your interest, this gold price forecast could be right up your alley. Just remember, always trade at your own risk!</p><p class=“text-align-start“>Gold technical analysis: Anticipating a short trade soon</p><p class=“text-align-start“>A quick overview of the the gold technical analysis video above</p><ul><li>Triple top formation on the daily time frame</li><li>Signs of possible fatigue in the gold market</li><li>Yellow channel with touch points at around 1800 and 1975</li><li>Pivot point at 1975 seen throughout March</li></ul><p>With these factors in mind, let’s delve into the potential trade idea.</p><p class=“text-align-start“>The 7:1 Short trade idea on Gold futures</p><p>This strategy suggests shorting gold on the next possible spike up at 2010.8. Keep in mind that this is an orientation and you should:</p><ul><li>Set alerts and follow the price manually</li><li>Wait for bull trapping before the last failure and decline</li><li>Take partial profits at about 1942 for a 2.5:1 reward versus risk</li></ul><p>The final target for this trade idea is around 1827, which represents a move of over 9%. To manage risk, a stop loss is set at 1.3% above, at 2037.</p><p class=“text-align-start“>The trade-off: high reward vs. low probability</p><p>As with any trading strategy, there’s no free lunch. Aiming for bigger rewards means accepting lower probabilities. Some might see this as a risky approach, preferring more confirmations. However, if you’re looking for a potential high-reward trade, this gold technical analysis is worth considering.</p><p class=“text-align-start“>Takeaway</p><p>Keep an eye on gold’s price and be ready to act when the right opportunity presents itself. And to stay updated with more views and analyses like these, <a target=“_blank“ href=“https://www.youtube.com/@Forexlive?sub_confirmation=1″ target=“_new“>subscribe to the Forexlive.com Youtube channel</a>.</p>
This article was written by Itai Levitan at www.forexlive.com.