GOLD PLAN 02/07 – RECOVERY SIGNAL AFTER LATE US SESSION CORRECTION
📰 KEY MACRO NEWS:
Today, markets await the US ADP employment report – a leading indicator ahead of this week’s Nonfarm Payrolls.
President Trump delivered a noteworthy speech, raising concerns over the new tax reform bill, which could fuel fears of a growing US budget deficit.
These factors are providing short-term support for gold’s bullish momentum.
📉 TECHNICAL ANALYSIS:
Gold rallied sharply yesterday, reaching 3358 before closing the day at 3338 – roughly the current market price.
The strong bullish move indicates a rebound after the correction during the late US session.
Currently, during the Asian session, the market is consolidating mildly, reflecting sustained buying pressure, though without a clear breakout.
A confirmed break above 3340–3345 would likely reaffirm the uptrend.
Today’s Strategy: Prioritise Buy setups following the bullish momentum. However, Sell entries can be considered at strong resistance zones with rejection signals.
📌 KEY PRICE LEVELS:
Resistance: 3358 – 3367 – 3393 – 3400 – 3423
Support: 3329 – 3275 – 3259 – 3245
🎯 TRADE SETUPS:
🔸 SCALPING SELL
Entry: 3358 – 3360
SL: 3364
TP: 50–100 pips
🔸 STRATEGIC SELL
Entry: 3372 – 3374 | SL: 3378 | TP: 3360 – 3342 – 3300
Entry: 3409 – 3411 | SL: 3416 | TP: 3390 – 3375 – 3350
🔸 STRATEGIC BUY
Buy only after a strong break above 3345
Entry: 3324 | SL: 3319 | TP: 3340 – 3356 – 3370
Entry: 3311 – 3313 | SL: 3306 | TP: 3322 – 3350 – 3366
📎 NOTE:
The current retracement remains within a bullish structure. Stay close to sensitive zones to optimise entries and maximise returns.
I will provide further updates throughout the day if any unexpected signals emerge.
📰 KEY MACRO NEWS:
Today, markets await the US ADP employment report – a leading indicator ahead of this week’s Nonfarm Payrolls.
President Trump delivered a noteworthy speech, raising concerns over the new tax reform bill, which could fuel fears of a growing US budget deficit.
These factors are providing short-term support for gold’s bullish momentum.
📉 TECHNICAL ANALYSIS:
Gold rallied sharply yesterday, reaching 3358 before closing the day at 3338 – roughly the current market price.
The strong bullish move indicates a rebound after the correction during the late US session.
Currently, during the Asian session, the market is consolidating mildly, reflecting sustained buying pressure, though without a clear breakout.
A confirmed break above 3340–3345 would likely reaffirm the uptrend.
Today’s Strategy: Prioritise Buy setups following the bullish momentum. However, Sell entries can be considered at strong resistance zones with rejection signals.
📌 KEY PRICE LEVELS:
Resistance: 3358 – 3367 – 3393 – 3400 – 3423
Support: 3329 – 3275 – 3259 – 3245
🎯 TRADE SETUPS:
🔸 SCALPING SELL
Entry: 3358 – 3360
SL: 3364
TP: 50–100 pips
🔸 STRATEGIC SELL
Entry: 3372 – 3374 | SL: 3378 | TP: 3360 – 3342 – 3300
Entry: 3409 – 3411 | SL: 3416 | TP: 3390 – 3375 – 3350
🔸 STRATEGIC BUY
Buy only after a strong break above 3345
Entry: 3324 | SL: 3319 | TP: 3340 – 3356 – 3370
Entry: 3311 – 3313 | SL: 3306 | TP: 3322 – 3350 – 3366
📎 NOTE:
The current retracement remains within a bullish structure. Stay close to sensitive zones to optimise entries and maximise returns.
I will provide further updates throughout the day if any unexpected signals emerge.
👑 Price Action - Simple Trade System - One Shot One Kill Style
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here: t.me/+IMP0jWwLSGNmYTRl
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here: t.me/+IMP0jWwLSGNmYTRl
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.
👑 Price Action - Simple Trade System - One Shot One Kill Style
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here: t.me/+IMP0jWwLSGNmYTRl
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here: t.me/+IMP0jWwLSGNmYTRl
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.