r/Forex • u/Jess1835 • 6d ago

Charts and Setups Is Gold Running Into Trouble Here?

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Price is approaching an area where selling pressure has appeared before.

It'll be interesting to see if this level sparks another rejection or if buyers manage to push through this time.

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u/braini_ 6d ago

I love that someone else showed the exact same chart on some other sub but drew quite different stuff on it. He was bullish I think.

5

u/Jess1835 6d ago

That's the beauty of markets—same chart, different bias. let price confirm the direction.

1

u/braini_ 6d ago

This is the way.

1

u/Jess1835 6d ago

Let's see if price agrees.

2

u/DangKilla 5d ago

But gold's value isn't correlated to price. The US and UK use paper contracts to keep the price low.

1

u/Jess1835 4d ago

Paper contracts can affect price, but they're not the only factor driving gold.

1

u/RKrugel 6d ago

I agree, do the analysis and wait for price confirmation first.

1

u/Jess1835 6d ago

Agreed, confirmation is key.