Gold is currently in a clear consolidation phase on the 4-hour chart, moving within the range of 3,320 to 3,393. After a pullback from the 3,460 peak, the price has repeatedly formed ParSE and ParLE patterns, indicating a strong tug-of-war between buyers and sellers. This suggests that the market is building pressure for a potential breakout in the coming sessions.
Technically, the 3,393 – 3,400 zone remains a key resistance as price has been rejected multiple times there.
Meanwhile, the 3,320 – 3,330 area is holding as solid support, showing strong bullish reactions in previous touches.
The 3,342 – 3,350 range is acting as a neutral zone where price is accumulating before making its next move.
There are two optimal trading strategies at this stage.
The first is range trading: look to buy near 3,320 – 3,330 and target profits at 3,350 – 3,370; conversely, consider selling around 3,390 – 3,393 with take-profit targets back at 3,350 – 3,365. The second is breakout trading: if the price closes a 4H candle above 3,393 with strong volume, it opens up long opportunities targeting 3,420 – 3,445.
On the flip side, a clear break below 3,320 may lead to further downside toward 3,285 – 3,260.
From a macroeconomic perspective, traders should closely monitor US inflation data and upcoming Fed policy signals. Any hints of easing from the Fed could act as a strong bullish catalyst for gold. Additionally, geopolitical developments and USD trends remain crucial as they directly influence safe-haven flows into gold.
In summary, this is a key phase to observe and prepare for decisive action when the market breaks out of consolidation. Patience, disciplined entries, and strict risk management are essential in the current environment.
Follow for daily updates and actionable strategies as the setup unfolds.
Technically, the 3,393 – 3,400 zone remains a key resistance as price has been rejected multiple times there.
Meanwhile, the 3,320 – 3,330 area is holding as solid support, showing strong bullish reactions in previous touches.
The 3,342 – 3,350 range is acting as a neutral zone where price is accumulating before making its next move.
There are two optimal trading strategies at this stage.
The first is range trading: look to buy near 3,320 – 3,330 and target profits at 3,350 – 3,370; conversely, consider selling around 3,390 – 3,393 with take-profit targets back at 3,350 – 3,365. The second is breakout trading: if the price closes a 4H candle above 3,393 with strong volume, it opens up long opportunities targeting 3,420 – 3,445.
On the flip side, a clear break below 3,320 may lead to further downside toward 3,285 – 3,260.
From a macroeconomic perspective, traders should closely monitor US inflation data and upcoming Fed policy signals. Any hints of easing from the Fed could act as a strong bullish catalyst for gold. Additionally, geopolitical developments and USD trends remain crucial as they directly influence safe-haven flows into gold.
In summary, this is a key phase to observe and prepare for decisive action when the market breaks out of consolidation. Patience, disciplined entries, and strict risk management are essential in the current environment.
Follow for daily updates and actionable strategies as the setup unfolds.
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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.