**Gold (XAU/USD) - Key Zone Reaction & Possible Scenarios**
Looking at the chart, we can see that price is currently testing the **30 EG** zone after a strong move up from the **30 EF** zone below. The **original FEZ zone** (far left) was respected, and price reacted accordingly.
### What could happen next?
1️⃣ **Bearish Rejection from 30 EG** → If the price fails to break through the EG zone and shows clear rejection, we could see a short-term pullback or even a deeper retracement.
2️⃣ **Break & Continuation** → If price breaks above the EG zone with strength, it may confirm bullish momentum and push towards the next liquidity area.
3️⃣ **Formation of New EG** → If price consolidates and prints another engulfing structure within this range, we could reconsider labeling this zone accordingly.
### Key Takeaway
Since **EG was not formed on CMP**, this is more likely to be a **CE (Continuation Engulf)** rather than a strong EG. If no significant reaction occurs here, bulls may continue their dominance.
If close below green line, for sure we are Bearish!
What do you think? Do you expect gold to hold this zone or break higher? 🔥📉📈
Looking at the chart, we can see that price is currently testing the **30 EG** zone after a strong move up from the **30 EF** zone below. The **original FEZ zone** (far left) was respected, and price reacted accordingly.
### What could happen next?
1️⃣ **Bearish Rejection from 30 EG** → If the price fails to break through the EG zone and shows clear rejection, we could see a short-term pullback or even a deeper retracement.
2️⃣ **Break & Continuation** → If price breaks above the EG zone with strength, it may confirm bullish momentum and push towards the next liquidity area.
3️⃣ **Formation of New EG** → If price consolidates and prints another engulfing structure within this range, we could reconsider labeling this zone accordingly.
### Key Takeaway
Since **EG was not formed on CMP**, this is more likely to be a **CE (Continuation Engulf)** rather than a strong EG. If no significant reaction occurs here, bulls may continue their dominance.
If close below green line, for sure we are Bearish!
What do you think? Do you expect gold to hold this zone or break higher? 🔥📉📈
⚡ Actionable setups.
⚡ Weekly fundamental bias.
⚡ Macro, sentiment, and positioning insights.
🛡️ Follow now and trade with an edge, not noise.
⚡ Weekly fundamental bias.
⚡ Macro, sentiment, and positioning insights.
🛡️ Follow now and trade with an edge, not noise.
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.
⚡ Actionable setups.
⚡ Weekly fundamental bias.
⚡ Macro, sentiment, and positioning insights.
🛡️ Follow now and trade with an edge, not noise.
⚡ Weekly fundamental bias.
⚡ Macro, sentiment, and positioning insights.
🛡️ Follow now and trade with an edge, not noise.
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.