GOLD Hello TradersWish you best of luck, make sure to stay a way from groups who provide you signals without showing their analysis. Take one reference as a mentor till you can analyze by yourself.
Based on the daily chart, here's a technical forecast and trading plan for the upcoming week (end of May 2025). This is a purely technical read, and should be adjusted in light of macroeconomic news (e.g., FOMC, GDP, Durable Goods, etc.).
🔍 Chart Summary:
Price recently pulled back from the highs (~3500) and is now retesting previous resistance turned support near 3300–3350, attempting a bullish continuation.
Recent candles show higher lows and bullish bodies – momentum is returning upward.
📈 Bullish Scenario (Primary)
🔹 Breakout above 3370 (4 Hr Candle closure).
🎯 Target Points:
TP1: 3408
TP2: 3438
TP3: 3,500 (if no rejection observed at 3,440-3,450)
🔹Another Bullish scenario is valid (which is risky) to buy on pullback: around 3315–3330 within
SL @3,270.
📌 Notes for Bullish Scenario:
🔹If price consolidates above 3370, breakout buy is safer.
🔹Wait for a bullish rejection wick or engulfing candle (from 3315-3330) on 4H to confirm
long.
📉 Bearish Scenario (Alternative if rejection happens)
🔹Breakdown below 3280 (4 Hr Candle closure).
🔹If sharp rejection or doji/inverted hammer appears you can SELL near: 3440–3450.
🎯 Target Points:
TP1: 3240
TP2: 3200
TP3: 3167
📌 Notes for Bearish Scenario:
🔹This is only valid if rejection near 3440–3450 happens with momentum loss with SL @ 3,465.
🔹Below 3280, the market would show signs of deeper correction.
🧠 Strategic Recommendation:
🔹Bias: Bullish unless 3275 is broken.
🔹Session to Watch for Entries: London/NY overlap.
🔹Timeframes for Entry Confirmation: 1H or 4H.
TVC:GOLD https://tradingview.sweetlogin.com/x/TCz7kbeE/
Trade active
Recap: 🔎 What Actually Happened (Last Week Review)
From the 1H chart:
Price did touch above 3350, then reversed sharply.
It created a lower high, followed by a drop.
Tapped a low near 3270, bounced, and is currently ranging between 3280 – 3317.
🧠 Conclusion:
The bearish play initiated well — price respected the supply zone and rejected as forecasted.
✅ TP1 (3270) was hit.
🟨 TP2 (3190) not yet reached.
🔁 Current price is retracing/accumulating near equilibrium.
Trade closed: target reached
HELLO EVERYONE JUST PERFECTTTTT...
AFTER 4HR/DAILY CANDLE CLOUSER, SHINY METAL HITS 3,408 AND 3,438 .
The rejection from 3,440-3,450 was expected as it was rejected two Times.
make sure to get notified for my next publication...
The MARKET WILL BEHAVE JUST LIKE A PIECE OF FIRE ... CAREFUL , CAREFUL AND CAREFUL
Good Luck
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.