📉 Market Context:
Gold has pulled back after a strong rally and is now showing signs of price compression near 3,310, forming a potential reversal base.
🔍 Technical Observations:
Consolidation Phase:
Price has stalled after a downward move, now ranging between 3,290–3,310.
Volume Cluster:
Strong volume seen around the 3,310 zone — indicating a high liquidity area and potential demand buildup.
Projection Path:
The dotted white curve suggests a possible W-bottom, where price dips again, forms a higher low, and rallies toward 3,355 (marked by the star).
🎯 Key Levels:
Zone Action
3,290 Must-hold support
3,310–3,320 Compression/resistance zone
3,355 Target if breakout occurs
⚠️ Summary:
Gold is neutral to bullish short-term. If bulls defend 3,290, a breakout above 3,320 could lead to a rally toward 3,355. However, a break below 3,290 would shift momentum back to the downside.
Gold has pulled back after a strong rally and is now showing signs of price compression near 3,310, forming a potential reversal base.
🔍 Technical Observations:
Consolidation Phase:
Price has stalled after a downward move, now ranging between 3,290–3,310.
Volume Cluster:
Strong volume seen around the 3,310 zone — indicating a high liquidity area and potential demand buildup.
Projection Path:
The dotted white curve suggests a possible W-bottom, where price dips again, forms a higher low, and rallies toward 3,355 (marked by the star).
🎯 Key Levels:
Zone Action
3,290 Must-hold support
3,310–3,320 Compression/resistance zone
3,355 Target if breakout occurs
⚠️ Summary:
Gold is neutral to bullish short-term. If bulls defend 3,290, a breakout above 3,320 could lead to a rally toward 3,355. However, a break below 3,290 would shift momentum back to the downside.
Trade closed: target reached
Closed All TradesGold TP was nearly hit — no need to risk further. Secured profits and stepping back. Discipline > Greed. ✅
Forex Market Analyst | XAU/USD Specialist
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Forex Market Analyst | XAU/USD Specialist
. VIP Signal Channel for Premium Insights
. Comprehensive Forex Mentorship Program
. Affiliate Program for growth-driven partners
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. VIP Signal Channel for Premium Insights
. Comprehensive Forex Mentorship Program
. Affiliate Program for growth-driven partners
Join Our Telegram t.me/Goldsignalspro12
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.