Gold Price Action Update – Smart Dip Buy Pays Off!Yesterday, gold dipped to around 3290, followed by a minor rebound.
Today, as expected, it broke down through the 3280 level decisively—just as we discussed:
🔻 A break below 3280 likely means a gap fill toward 3259.
✅ For those who followed the plan and went long below 3266, the trade worked beautifully—
Gold dropped to a low of 3245, effectively filling the gap, and has since rebounded back to the 3280 area.
📈 What’s next?
Now that the gap is filled, gold is likely to retest the $3300 zone in the short term.
With price currently around 3280, there is still room to the upside.
➡️ If you're holding long positions, you can consider holding a bit longer for potential further gains.
🚨 BUT—this was only a single bottom test.
That means there's still a chance of a second dip before the trend fully reverses. So:
🛡 Risk management remains crucial.
If you're okay with some profit pullback, it's fine to stay in.
If not, consider securing partial profits and setting trailing stops.
🎯 Key levels to watch:
🔼 3300 – Main resistance zone; focus on whether it breaks or rejects;
🔽 3276–3263 – Support range on any pullback; good zones to watch for fresh entries if support holds.
📌 Trading Strategy Outlook:
For now, continue to buy on dips as long as support holds, and monitor 3300 resistance closely.
If price fails to break above, we may see a pullback—but as always, with proper planning, we stay profitable.
