Gold has just broken down from a key supply zone (marked in blue) between $3,316 – $3,330, showing clear signs of exhaustion and bearish rejection at the top. After several attempts to break higher, the sellers have taken control.
Key Levels to Watch:
Immediate Resistance: $3,330
Resistance Zone: $3,316 – $3,330 (Fresh supply zone)
Support 1: $3,257
Support 2: $3,223 (Recent breakout zone)
Support 3 / Demand Zone: $3,169 – $3,180 (Strong historical demand, marked in orange)
Price Action Insight:
Market structure shifted after failing to hold above $3,316
Bearish engulfing near resistance zone = strong sell signal
Volume tapering near highs, indicating buyer fatigue
Clear imbalance (FVG) from $3,223 down to $3,169 — watch for price to fill this gap
Trade Idea:
Short Bias – If price retests and rejects the $3,316-$3,320 area, potential swing short down toward the $3,223 support, with eyes on $3,169 if momentum accelerates.
Risk Management Tip:
Wait for confirmation (e.g., bearish candle close under $3,310 or retest rejection) before entering. Protect your capital — volatility could spike with news.
---
What’s Next?
Will Gold fill the imbalance and retest that demand zone? Or is this just a fake-out before another leg higher?
Comment your thoughts below – bullish or bearish on Gold this week?
If this chart helped you, leave a like and follow for more daily price action setups.
Key Levels to Watch:
Immediate Resistance: $3,330
Resistance Zone: $3,316 – $3,330 (Fresh supply zone)
Support 1: $3,257
Support 2: $3,223 (Recent breakout zone)
Support 3 / Demand Zone: $3,169 – $3,180 (Strong historical demand, marked in orange)
Price Action Insight:
Market structure shifted after failing to hold above $3,316
Bearish engulfing near resistance zone = strong sell signal
Volume tapering near highs, indicating buyer fatigue
Clear imbalance (FVG) from $3,223 down to $3,169 — watch for price to fill this gap
Trade Idea:
Short Bias – If price retests and rejects the $3,316-$3,320 area, potential swing short down toward the $3,223 support, with eyes on $3,169 if momentum accelerates.
Risk Management Tip:
Wait for confirmation (e.g., bearish candle close under $3,310 or retest rejection) before entering. Protect your capital — volatility could spike with news.
---
What’s Next?
Will Gold fill the imbalance and retest that demand zone? Or is this just a fake-out before another leg higher?
Comment your thoughts below – bullish or bearish on Gold this week?
If this chart helped you, leave a like and follow for more daily price action setups.
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✅JOIN FREE SIGNALS t.me/frankfxforextrade
✅FOR VIP DM: t.me/frankfx22
✅ AUTOMATED BOT: bot.frankfxx.com/
✅ICMARKETS frankfxx.com/icmarkets
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✅FOR VIP DM: t.me/frankfx22
✅ AUTOMATED BOT: bot.frankfxx.com/
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ XM frankfxx.com/xm
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.