1. Yesterday’s Setup
In my yesterday’s analysis, I mentioned that while I am bullish overall, I could not ignore the pressure Gold was putting on the 3330 support. I also noted that for bulls to regain control, a break above 3345 was needed.
The market reacted with textbook precision: price rallied exactly to 3345 before breaking down through 3330, reaching a low of 3311. Currently, we see a normal rebound, but inside a bearish short-term structure.
________________________________________
2. The Key Question
Is this just a continuation of the downtrend, or a trap before the real bullish move?
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3. Why I’m Not Convinced by the Bears
• The recent drop doesn’t look impulsive—it’s overlapped and choppy, more like a stepway accumulation phase.
• The pattern is contained inside a falling wedge, a structure that usually favors upside breaks.
• Bears had their chance yesterday, but the follow-through looks weak.
________________________________________
4. Trading Plan
At this moment, I’m out of the market, waiting for confirmation.
• Buy zone: around 3300–3305 for a potential re-entry long.
• Bullish confirmation: if price climbs back above yesterday’s high (3345), it would negate the breakdown and confirm a false break.
• With price now at 3322, I prefer to stay patient, watching how it reacts at the key levels.
________________________________________
5. Final Note 🚀
Gold is now right in the middle of my interest range. For me, it’s not about predicting—it’s about waiting for the market to reveal the next high-probability setup.
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.
In my yesterday’s analysis, I mentioned that while I am bullish overall, I could not ignore the pressure Gold was putting on the 3330 support. I also noted that for bulls to regain control, a break above 3345 was needed.
The market reacted with textbook precision: price rallied exactly to 3345 before breaking down through 3330, reaching a low of 3311. Currently, we see a normal rebound, but inside a bearish short-term structure.
________________________________________
2. The Key Question
Is this just a continuation of the downtrend, or a trap before the real bullish move?
________________________________________
3. Why I’m Not Convinced by the Bears
• The recent drop doesn’t look impulsive—it’s overlapped and choppy, more like a stepway accumulation phase.
• The pattern is contained inside a falling wedge, a structure that usually favors upside breaks.
• Bears had their chance yesterday, but the follow-through looks weak.
________________________________________
4. Trading Plan
At this moment, I’m out of the market, waiting for confirmation.
• Buy zone: around 3300–3305 for a potential re-entry long.
• Bullish confirmation: if price climbs back above yesterday’s high (3345), it would negate the breakdown and confirm a false break.
• With price now at 3322, I prefer to stay patient, watching how it reacts at the key levels.
________________________________________
5. Final Note 🚀
Gold is now right in the middle of my interest range. For me, it’s not about predicting—it’s about waiting for the market to reveal the next high-probability setup.
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.
Trade active
As expected, it was false breakGold got back above 3330
Buy dips in play
📈 Forex & XAU/USD Channel:
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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.
📈 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.