Gold continues to maintain its upward momentum as expected, and yesterday's session reached the target of 3400. This is a signal that the bullish wave structure is still holding. In today's European trading session, the price is likely to make a technical correction to important support zones before continuing the main trend in the US session.
The current trading strategy still prioritizes following the uptrend, focusing on observing price reactions at support zones to find safe entry points. Waiting for buyers to confirm participation is a key factor to avoid FOMO at the wrong time.
🔑 Key Levels
Support: 3375 – 3363
Resistance: 3400 – 3427
✅ Trading Strategy
Buy Trigger #1: Price reacts positively and rejects the support zone at 3375
Buy Trigger #2: Price rebounds strongly from the deeper support zone at 3363
Buy DCA (Moving Average): When price breaks and holds above 3400
🎯 Next Target: 3427
📌 Note: It is necessary to closely monitor price reaction at support zones to determine whether buying power is strong enough. If there is no clear confirmation signal, it is better to stay on the sidelines and observe instead of FOMOing to place orders.
The current trading strategy still prioritizes following the uptrend, focusing on observing price reactions at support zones to find safe entry points. Waiting for buyers to confirm participation is a key factor to avoid FOMO at the wrong time.
🔑 Key Levels
Support: 3375 – 3363
Resistance: 3400 – 3427
✅ Trading Strategy
Buy Trigger #1: Price reacts positively and rejects the support zone at 3375
Buy Trigger #2: Price rebounds strongly from the deeper support zone at 3363
Buy DCA (Moving Average): When price breaks and holds above 3400
🎯 Next Target: 3427
📌 Note: It is necessary to closely monitor price reaction at support zones to determine whether buying power is strong enough. If there is no clear confirmation signal, it is better to stay on the sidelines and observe instead of FOMOing to place orders.
Trade active
Gold price falls below $3,400 despite increased risk aversionGold price edges lower on Tuesday after two days of gains. However, the price of the safe-haven metal may appreciate due to prevailing uncertainty ahead of US President Donald Trump's August 1 tariff deadline. Additionally, market sentiment deepens due to increasing worries about the Federal Reserve's independence.
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.