Hello, amazing traders! 📊 Last week, gold put both buyers and sellers through a rollercoaster, peaking at $3,439 on Monday and Tuesday before a sharp decline shook the market. The chart reveals a classic triangle pattern with a sneaky false breakout, designed to trap the unwary. Now, with the upside liquidity swept away, a bearish move is on the horizon—let’s break it down!
📈 Chart Insights
Take a look at the attached chart! Gold’s recent action highlights:
False Breakout: The price tricked traders with a brief surge, only to reverse sharply.
Target Zone: Equal Lows at $3,240 are the next key level to watch.
Retracements: Expect a pullback to the $3,360-$3,365 range, where order blocks, 4H Fair Value Gaps (FVG), and Hourly Imbalance Fair Value Gaps (IFVG) form a powerful demand zone.
🎯 Trading Plan
Entry Point: Prepare to short around $3,360-$3,365 as gold retraces to this strong PD Array.
Stop Loss: Place above $3,385 to avoid the daily and 4H FVG zone ($3,375-$3,385), which should act as resistance.
Target: Aim for $3,240, the Equal Lows, with updates on short-term targets to follow.
Note: The $3,375-$3,385 range is a balanced zone—unlikely to be revisited soon.
🚨 Why Act Now?
This setup offers a golden (or should I say bearish gold?) chance to capitalize on the market’s momentum. The chart’s clear levels and the false breakout signal a high-probability move. Stay tuned for real-time updates as we track this trade!
💬 Join the Conversation!
Loved this analysis? Hit the Like button to show your support! ❤️ Follow me for more actionable insights, and drop a comment below—where do you see gold heading next? Let’s build a thriving TradingView community together! 🙌
Happy trading, and may your trades be as sharp as this analysis! ✨
📈 Chart Insights
Take a look at the attached chart! Gold’s recent action highlights:
False Breakout: The price tricked traders with a brief surge, only to reverse sharply.
Target Zone: Equal Lows at $3,240 are the next key level to watch.
Retracements: Expect a pullback to the $3,360-$3,365 range, where order blocks, 4H Fair Value Gaps (FVG), and Hourly Imbalance Fair Value Gaps (IFVG) form a powerful demand zone.
🎯 Trading Plan
Entry Point: Prepare to short around $3,360-$3,365 as gold retraces to this strong PD Array.
Stop Loss: Place above $3,385 to avoid the daily and 4H FVG zone ($3,375-$3,385), which should act as resistance.
Target: Aim for $3,240, the Equal Lows, with updates on short-term targets to follow.
Note: The $3,375-$3,385 range is a balanced zone—unlikely to be revisited soon.
🚨 Why Act Now?
This setup offers a golden (or should I say bearish gold?) chance to capitalize on the market’s momentum. The chart’s clear levels and the false breakout signal a high-probability move. Stay tuned for real-time updates as we track this trade!
💬 Join the Conversation!
Loved this analysis? Hit the Like button to show your support! ❤️ Follow me for more actionable insights, and drop a comment below—where do you see gold heading next? Let’s build a thriving TradingView community together! 🙌
Happy trading, and may your trades be as sharp as this analysis! ✨
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.