Gold has recently shown a clear Change of Character (CHoCH) near the 3275 level, signaling a potential shift from bearish to bullish momentum. After a strong downtrend, the market formed a base and then launched an aggressive bullish rally, breaking previous structure and indicating a possible trend reversal. Currently, price is consolidating around the 3350–3360 zone, just above a key demand zone between 3330 and 3340, which is likely to act as a support area. This zone also aligns with a previous supply area that has now flipped into demand, confirming smart money interest.
The projected move shows a potential short-term dip into this demand zone before continuing the upward push toward the 3370–3390 range, where buy-side liquidity is likely resting. This level could act as a near-term target or resistance. If price holds above 3330 and shows bullish confirmation (like an engulfing pattern or FVG reaction), buyers could look for opportunities with targets near 3370 and 3390. However, if the price breaks below 3330 with strong bearish momentum, the bullish bias may be invalidated, and we could see further downside.
Overall, the structure is bullish, but traders should watch for a retest of the demand zone before entering long positions. Risk should be managed carefully with stops below 3330.
What You Should Watch:
Entry confirmation around 3,335–3,340 with bullish engulfing or FVG reaction
Set TP1 = 3,370
TP2 = 3,390
SL = Below 3,330
The projected move shows a potential short-term dip into this demand zone before continuing the upward push toward the 3370–3390 range, where buy-side liquidity is likely resting. This level could act as a near-term target or resistance. If price holds above 3330 and shows bullish confirmation (like an engulfing pattern or FVG reaction), buyers could look for opportunities with targets near 3370 and 3390. However, if the price breaks below 3330 with strong bearish momentum, the bullish bias may be invalidated, and we could see further downside.
Overall, the structure is bullish, but traders should watch for a retest of the demand zone before entering long positions. Risk should be managed carefully with stops below 3330.
What You Should Watch:
Entry confirmation around 3,335–3,340 with bullish engulfing or FVG reaction
Set TP1 = 3,370
TP2 = 3,390
SL = Below 3,330
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.