🌇Good afternoon, everyone!
Gold made a strong one-way rally from 3120 to above 3200 yesterday, perfectly achieving our bullish target with substantial profits.
Today, after a slight uptick at the open, gold started to pull back and enter a consolidation phase. Technically, this is a normal correction after a $120 surge. However, the key question now is:
🔍 Is this just a healthy pullback, or a bearish continuation pattern?
There’s some uncertainty in the current structure:
On the larger scale, the market still appears to be forming a double top.
On the shorter-term, this week’s pattern resembles a head and shoulders bottom, and price is now testing the neckline zone.
🧭 So, while the direction remains unclear, we can still identify key trading zones to act on.
🗞 News Watch:
Several important U.S. data releases are scheduled during the New York session. They may provide crucial directional signals for gold.
📌 Today’s Gold Trading Strategy:
🟢 Buy Zone: 3176 – 3148
🔴 Sell Zone: 3265 – 3287
🔄 Flexible Trading Zones (watch for reversals or breakout plays):
▫️3187-3198-3209-3237-3258-3267
✅ Reminder: With the structure being complex and direction unclear, avoid aggressive positioning. Focus on scalp or short-term trades near key zones and react to market post-data.
Note
Although several indicators remain bullish, the current technical structure is complex. Notably, the resistance around 3272 is quite strong, as it combines previous highs and structural pressure. To break above this level, bulls will need substantial momentum.If the 3272–3286 zone is successfully broken, the price could potentially move up toward the 3307 level.
If you prefer a conservative approach, consider delaying short positions until price enters the 3286+ resistance zone, where decision-making will be more favorable (3286-3307)
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Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
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.
I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
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.