Gold has shown a significant rejection from the 3340–3350 resistance zone and broke below the ascending trendline. The price is currently retesting the breakout area around 3294, which may act as a new supply zone. Based on current market structure and liquidity behavior, a short position is now favorable.
Trade Plan:
Entry Zone: 3294 – 3300
Stop Loss: Above 3310
Take Profit 1: 3260
Take Profit 2: 3240
Market volatility remains high, and price may hunt liquidity toward the 3240 zone before a potential bounce. Monitor U.S. session volume and possible news catalysts.
Trade Plan:
Entry Zone: 3294 – 3300
Stop Loss: Above 3310
Take Profit 1: 3260
Take Profit 2: 3240
Market volatility remains high, and price may hunt liquidity toward the 3240 zone before a potential bounce. Monitor U.S. session volume and possible news catalysts.
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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.
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.