📌 What happened yesterday?
During the Asian session, Gold printed a fresh local low at 3268, continuing the downtrend that already dropped over 1700 pips in just one week. However, that move quickly reversed, and we saw a natural corrective bounce.
📈 Resistance holds firm
The correction took price back up into the 3310 zone, which acted as confluence resistance. After two taps into that area, price failed to sustain above 3300, indicating sellers are still active there.
❓ Is the upside correction over?
I don't think so. The recent drop has been choppy, lacking the strong momentum of previous legs. This type of price action often signals that we are still within a correction, not in a clean continuation.
📊 What am I watching?
I’m actively monitoring for:
• Exhaustion signs on the downside
• Upside reversal signals
My plan is to open long trades only when I see confirmation, aiming for a move back toward the 3330 zone, which could act as resistance.
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.
During the Asian session, Gold printed a fresh local low at 3268, continuing the downtrend that already dropped over 1700 pips in just one week. However, that move quickly reversed, and we saw a natural corrective bounce.
📈 Resistance holds firm
The correction took price back up into the 3310 zone, which acted as confluence resistance. After two taps into that area, price failed to sustain above 3300, indicating sellers are still active there.
❓ Is the upside correction over?
I don't think so. The recent drop has been choppy, lacking the strong momentum of previous legs. This type of price action often signals that we are still within a correction, not in a clean continuation.
📊 What am I watching?
I’m actively monitoring for:
• Exhaustion signs on the downside
• Upside reversal signals
My plan is to open long trades only when I see confirmation, aiming for a move back toward the 3330 zone, which could act as resistance.
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
Gold is back above 3300, and the probability of the correction continuing is increasingTrade closed: target reached
And even excedeed
📈 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.