During today’s session, gold rebounded steadily from around 3120, ultimately closing near 3240, marking a massive $120 surge. Judging from this momentum, price is likely aiming to fill the gap around 3266.
However, after such a sharp rally, chasing long positions at high levels can be risky — potential for getting trapped is high.
🔍 Gap zone: 3266–3272
📌 Before reaching this zone, resistance exists near 3252
📈 Trading Plan:
If price does not pull back below 3213 after the market opens and instead continues climbing:
👉 Avoid chasing longs.
👉 Consider shorting near the 3252–3272 resistance zone.
If you still want to go long:
✅ Keep your target small
✅ Use a quick in, quick out approach — scalping style
🎯 Manage your positions carefully after strong moves like this.
However, after such a sharp rally, chasing long positions at high levels can be risky — potential for getting trapped is high.
🔍 Gap zone: 3266–3272
📌 Before reaching this zone, resistance exists near 3252
📈 Trading Plan:
If price does not pull back below 3213 after the market opens and instead continues climbing:
👉 Avoid chasing longs.
👉 Consider shorting near the 3252–3272 resistance zone.
If you still want to go long:
✅ Keep your target small
✅ Use a quick in, quick out approach — scalping style
🎯 Manage your positions carefully after strong moves like this.
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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.
Related publications
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.