Gold Analysis & Trading Plan – First Week of August
Overall Outlook:
Gold is currently consolidating between key levels. A breakout above resistance or a breakdown below support will determine the next move.
⸻
Bullish Scenario (LONG Setup)
• Condition: 4H candle closes above 3364
• Targets:
• First target: 3373
• Second target: 3382
• If 4H closes above 3382, extended targets will be:
• 3392
• 3400
• 3422
⸻
Bearish Scenario (SHORT Setup)
• Condition: 4H candle closes below 3353
• Targets:
• 3333
• 3329
• If 4H closes below 3329, extended targets will be:
• 3319
• 3313
• 3308
⸻
Key Notes
• Focus on intraday trading between these weekly levels as long as price remains within the range.
• Always apply strict risk management.
Overall Outlook:
Gold is currently consolidating between key levels. A breakout above resistance or a breakdown below support will determine the next move.
⸻
Bullish Scenario (LONG Setup)
• Condition: 4H candle closes above 3364
• Targets:
• First target: 3373
• Second target: 3382
• If 4H closes above 3382, extended targets will be:
• 3392
• 3400
• 3422
⸻
Bearish Scenario (SHORT Setup)
• Condition: 4H candle closes below 3353
• Targets:
• 3333
• 3329
• If 4H closes below 3329, extended targets will be:
• 3319
• 3313
• 3308
⸻
Key Notes
• Focus on intraday trading between these weekly levels as long as price remains within the range.
• Always apply strict risk management.
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.