Gold Futures – Closing Longs and Flipping Short at Key Fib🔴 Gold Futures – Closing Longs and Flipping Short at Key Fib Confluence
Instrument : Gold Futures – COMEX ( COMEX:GC1! )
Timeframe : 15-Minute
New Position : Short
Entry Zone : ~3442
Target : ~3362
Stop Loss : ~3458
Risk/Reward : Approx. 6.5+
Setup Type : Reversal from Overextension / Fib Resistance
💡 Trade Recap & Strategy Shift
We’ve officially closed both our recent long entry and our larger swing long position, locking in substantial profit on this move off the 0.618 retracement.
Now, we’re flipping short based on the following:
Price reached the 0.146 Fib extension from the previous retracement leg, a level often overlooked but powerful when confluence lines up.
Trendline resistance from the upper channel has been tagged.
Momentum is showing early signs of stalling after a strong vertical push — textbook overextension.
The rally into this level lacked divergence or structural buildup, increasing the chance of a snapback.
🛠️ Short Setup Details
Entry: 3442 (after signs of exhaustion near Fib confluence)
Target: 3362 (prior structure + 0.382 retracement)
Stop Loss: 3458 (just above high / resistance zone)
Risk/Reward: 6.5:1 — excellent profile for a countertrend play.
📌 Watch For
A break below 3390 will be key confirmation of momentum shifting back down.
Failure to hold 3442 on a retest will invalidate the short and re-open the door for a squeeze higher to 3476/3480.
With trend exhaustion in sight and high confluence resistance overhead, we’re taking the opportunity to pivot short — fully aware of the volatility this region can bring.
