Gold is currently trading at 3340.665, rejecting a strong supply zone around 3340 - 3345 (highlighted in blue). This area has shown multiple rejections in the past, suggesting strong institutional sell pressure.
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📌 Key Levels to Watch:
🟦 Resistance (Supply Zone): 3340 – 3345
🟦 Support 1: 3321.605 – Minor demand area
🟧 Support 2 (Major Demand Zone): 3301.256 – Strong historical demand
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📉 Bearish Bias Setup
🔴 Multiple rejections at the top supply zone
🔴 Bearish wicks show lack of buying strength
🔴 Price is forming lower highs near resistance
🧭 Potential Sell Setup:
Sell Entry: Near 3340–3345
TP1: 3321
TP2: 3301
SL: Above 3346
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🕹️ What to Watch for
🔺 A clean break and retest of 3321 for bearish continuation
🔻 If price hits 3301 demand zone, monitor for a bullish bounce
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📌 Red Arrows mark likely short-term bearish momentum zones.
🇺🇸 USD News Event Incoming – Increased volatility expected, especially near the New York session.
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📊 Let me know in the comments:
🔁 Are you going short from supply or waiting for the 3301 bounce?
💬 Follow for more Gold scalping setups daily!
#XAUUSD #Gold #ForexTrading #PriceAction #Scalping #LuxAlgo #SmartMoney #SupplyDemand #TechnicalAnalysis #TradingView #OANDA #GoldAnalysis #DayTrading
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📌 Key Levels to Watch:
🟦 Resistance (Supply Zone): 3340 – 3345
🟦 Support 1: 3321.605 – Minor demand area
🟧 Support 2 (Major Demand Zone): 3301.256 – Strong historical demand
---
📉 Bearish Bias Setup
🔴 Multiple rejections at the top supply zone
🔴 Bearish wicks show lack of buying strength
🔴 Price is forming lower highs near resistance
🧭 Potential Sell Setup:
Sell Entry: Near 3340–3345
TP1: 3321
TP2: 3301
SL: Above 3346
---
🕹️ What to Watch for
🔺 A clean break and retest of 3321 for bearish continuation
🔻 If price hits 3301 demand zone, monitor for a bullish bounce
---
📌 Red Arrows mark likely short-term bearish momentum zones.
🇺🇸 USD News Event Incoming – Increased volatility expected, especially near the New York session.
---
📊 Let me know in the comments:
🔁 Are you going short from supply or waiting for the 3301 bounce?
💬 Follow for more Gold scalping setups daily!
#XAUUSD #Gold #ForexTrading #PriceAction #Scalping #LuxAlgo #SmartMoney #SupplyDemand #TechnicalAnalysis #TradingView #OANDA #GoldAnalysis #DayTrading
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