Gold Hits 2.618 — Signs of a Healthy Pullback Brewing?
Gold is still sitting inside a bullish structure, but we've just tapped the 2.618 extension zone — a classic area where smart money often takes profit or hedges.
📉 Price has shown signs of slowing down, and on the lower timeframes (12H and below), we're seeing early structure for a pullback forming.
The neckline at ~3283 will be key support — a break below it could lead to a measured pullback towards the 0.5 or 0.618 retracement levels.
2.618 is an expansion level — meaning the current move is still strong, but the probability of a pullback increases after reaching it.
It doesn't guarantee a reversal — but it raises the odds of consolidation, profit-taking, or a pullback soon.
Trend remains bullish overall, but price needs to breathe before another strong leg up.
A new candle is beginning to form — typically after such aggressive moves, a natural pullback or consolidation phase happens.
Larger time frames (like the Monthly) still show expansion in progress, so any pullback could offer a buy-the-dip opportunity for continuation toward higher Fibonacci levels (like 4,200–4,750 range
📊 Big picture?
Gold is strong. But momentum cooling off at major extensions is expected. So Price will be dropping soon .
No need to panic — just a time to be precise, not greedy.
✅ Watch for:
Reaction at 3,283 neckline
Retests near 3,229 or 3,165
Bullish confirmation structure if this turns into a continuation
🧠 Smart money waits for structure, not just candles. Stay safe
Gold is still sitting inside a bullish structure, but we've just tapped the 2.618 extension zone — a classic area where smart money often takes profit or hedges.
📉 Price has shown signs of slowing down, and on the lower timeframes (12H and below), we're seeing early structure for a pullback forming.
The neckline at ~3283 will be key support — a break below it could lead to a measured pullback towards the 0.5 or 0.618 retracement levels.
2.618 is an expansion level — meaning the current move is still strong, but the probability of a pullback increases after reaching it.
It doesn't guarantee a reversal — but it raises the odds of consolidation, profit-taking, or a pullback soon.
Trend remains bullish overall, but price needs to breathe before another strong leg up.
A new candle is beginning to form — typically after such aggressive moves, a natural pullback or consolidation phase happens.
Larger time frames (like the Monthly) still show expansion in progress, so any pullback could offer a buy-the-dip opportunity for continuation toward higher Fibonacci levels (like 4,200–4,750 range
📊 Big picture?
Gold is strong. But momentum cooling off at major extensions is expected. So Price will be dropping soon .
No need to panic — just a time to be precise, not greedy.
✅ Watch for:
Reaction at 3,283 neckline
Retests near 3,229 or 3,165
Bullish confirmation structure if this turns into a continuation
🧠 Smart money waits for structure, not just candles. Stay safe
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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.
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.