Gold has been trading within a bearish parallel channel on the 4H timeframe, respecting both upper and lower trendlines with clear momentum to the downside. Price structure continues to form lower highs (LH) and lower lows (LL), confirming the prevailing bearish trend.
🔎 Key Observations:
Bearish Market Structure – The sequence of lower highs and lower lows indicates sellers are firmly in control. Each rally attempt has been capped below previous highs, showing strong supply pressure.
Parallel Channel – Price action is respecting the channel boundaries. Recent rejections from the upper trendline reinforce the bearish outlook.
Psychological Level – 3300 – The 3300 zone stands out as a major psychological level and a potential magnet for price. It also aligns with historical demand, making it a critical support to watch.
Momentum – Current candles show strong bearish bodies with weak rejections, highlighting continued downside pressure.
📉 Bearish Outlook:
If sellers maintain control, Gold is likely to extend the move down towards the 3300 demand zone. A clean break below this level could open the door for deeper corrections.
📊 Possible Scenarios:
Base Case (Bearish Continuation): Price respects the channel and continues lower toward 3300.
Alternative Scenario (Temporary Pullback): A minor retracement to retest 3345–3355 resistance before continuing lower.
⚠️ Risk Management:
Watch for bullish reversal signals around 3300, as this level may attract strong buyers.
A breakout above 3370 would weaken the bearish bias and suggest short-term strength.
✅ Summary:
Gold remains bearish on the 4H chart, with sellers driving momentum toward the 3300 psychological level. Unless bulls step in aggressively, the downside remains the path of least resistance.
🔎 Key Observations:
Bearish Market Structure – The sequence of lower highs and lower lows indicates sellers are firmly in control. Each rally attempt has been capped below previous highs, showing strong supply pressure.
Parallel Channel – Price action is respecting the channel boundaries. Recent rejections from the upper trendline reinforce the bearish outlook.
Psychological Level – 3300 – The 3300 zone stands out as a major psychological level and a potential magnet for price. It also aligns with historical demand, making it a critical support to watch.
Momentum – Current candles show strong bearish bodies with weak rejections, highlighting continued downside pressure.
📉 Bearish Outlook:
If sellers maintain control, Gold is likely to extend the move down towards the 3300 demand zone. A clean break below this level could open the door for deeper corrections.
📊 Possible Scenarios:
Base Case (Bearish Continuation): Price respects the channel and continues lower toward 3300.
Alternative Scenario (Temporary Pullback): A minor retracement to retest 3345–3355 resistance before continuing lower.
⚠️ Risk Management:
Watch for bullish reversal signals around 3300, as this level may attract strong buyers.
A breakout above 3370 would weaken the bearish bias and suggest short-term strength.
✅ Summary:
Gold remains bearish on the 4H chart, with sellers driving momentum toward the 3300 psychological level. Unless bulls step in aggressively, the downside remains the path of least resistance.
Trade closed: target reached
400+ Pips Gains Played very well in our direction :-)
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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.