Gold is currently testing a key confluence zone around $3,020, where 1H horizontal support, a 23m bullish trendline, and the descending trendline resistance (now retested) are all intersecting.
Price action is showing signs of holding this level after a retest and rejection wick, suggesting potential for bullish continuation. MACD is also beginning to flatten after a recent bearish move, signaling possible momentum shift.
Trade Idea:
• Entry: Around $3,020–$3,022 (if price confirms support and rejection)
• SL: Below $3,015 (beneath recent structure & trendline break)
• TP1: $3,032
• TP2: $3,038 (previous high)
Confirmation Required:
Wait for bullish engulfing or strong rejection candle at this zone on the lower timeframe (e.g., 15m or 23m) before entry.
Bias:
Bullish – as long as $3,015 holds and volume supports a bounce.
Price action is showing signs of holding this level after a retest and rejection wick, suggesting potential for bullish continuation. MACD is also beginning to flatten after a recent bearish move, signaling possible momentum shift.
Trade Idea:
• Entry: Around $3,020–$3,022 (if price confirms support and rejection)
• SL: Below $3,015 (beneath recent structure & trendline break)
• TP1: $3,032
• TP2: $3,038 (previous high)
Confirmation Required:
Wait for bullish engulfing or strong rejection candle at this zone on the lower timeframe (e.g., 15m or 23m) before entry.
Bias:
Bullish – as long as $3,015 holds and volume supports a bounce.
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.