1. Introduction – what happened yesterday
Yesterday Gold made a false break below 3330 support, only to reverse sharply back to 3360 resistance before dropping again. After that move, the market slipped into an irregular range with no real direction.
During the night session, another dip under 3330 was rejected, but this time 3340 capped the upside.
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2. The key question
Has the correction ended, or is Gold preparing for a continuation to the downside?
________________________________________
3. Why Gold looks vulnerable
• 3330 is under constant pressure, and rejection bounces are getting weaker.
• Bulls need a break and stabilization above 3345 to regain control.
• A clean break under 3330 would likely trigger a continuation towards 3280.
________________________________________
4. Trading plan
I’m currently holding a long trade, slightly in the red. My approach:
• Bullish case: Break and hold above 3345 → upside open towards 3380.
• Bearish case: Break below 3330 → downside continuation to 3280, which also means stop loss for me.
For those not in the market, the best choice is to wait for clarification before entering.
________________________________________
5. Closing note
Gold is at a decision point. Very soon, the market will confirm the next direction. Until then → patience and discipline are the best strategy. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Yesterday Gold made a false break below 3330 support, only to reverse sharply back to 3360 resistance before dropping again. After that move, the market slipped into an irregular range with no real direction.
During the night session, another dip under 3330 was rejected, but this time 3340 capped the upside.
________________________________________
2. The key question
Has the correction ended, or is Gold preparing for a continuation to the downside?
________________________________________
3. Why Gold looks vulnerable
• 3330 is under constant pressure, and rejection bounces are getting weaker.
• Bulls need a break and stabilization above 3345 to regain control.
• A clean break under 3330 would likely trigger a continuation towards 3280.
________________________________________
4. Trading plan
I’m currently holding a long trade, slightly in the red. My approach:
• Bullish case: Break and hold above 3345 → upside open towards 3380.
• Bearish case: Break below 3330 → downside continuation to 3280, which also means stop loss for me.
For those not in the market, the best choice is to wait for clarification before entering.
________________________________________
5. Closing note
Gold is at a decision point. Very soon, the market will confirm the next direction. Until then → patience and discipline are the best strategy. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.