Gold is currently trading near the key support zone at 3265–3285.
A confident break below this area could open the way for a deeper correction, with targets at 3220, 3125, and possibly down to 3070.
Why am I viewing it as a correction?
On the daily, weekly, and monthly charts, gold remains in a strong uptrend.
Shorting into an uptrend is risky, so if I do take a short, it will be with a reduced position size and tight risk control.
📝Trading Plan:
1. 📉Wait for clear confirmation of a breakdown — a firm move below 3265. First target: 3220.
2. 📈If support holds and price stabilizes at current levels, I’ll be looking for long setups instead.
Patience is key here — no rush.
A confident break below this area could open the way for a deeper correction, with targets at 3220, 3125, and possibly down to 3070.
Why am I viewing it as a correction?
On the daily, weekly, and monthly charts, gold remains in a strong uptrend.
Shorting into an uptrend is risky, so if I do take a short, it will be with a reduced position size and tight risk control.
📝Trading Plan:
1. 📉Wait for clear confirmation of a breakdown — a firm move below 3265. First target: 3220.
2. 📈If support holds and price stabilizes at current levels, I’ll be looking for long setups instead.
Patience is key here — no rush.
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.
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.