Bias: Bearish
Reasoning:
Fair Value Gap (FVG) rejection – Price tapped into the supply/FVG zone around 3,358 – 3,372 and showed rejection.
Lower highs forming – Market structure suggests bearish momentum as bulls failed to push beyond recent highs.
Liquidity targets below – There’s untapped liquidity and imbalance resting near the 3,268 level and potentially lower towards 3,200.
Macro outlook – Strong USD and hawkish Fed stance could continue to pressure gold in the mid-term.
Entry zone: 3,358 – 3,372 (already tested)
Short-term target (TP1): 3,268
Long-term target (TP2): 3,200 – 3,180 zone
Invalidation (SL): Close above 3,380
Reasoning:
Fair Value Gap (FVG) rejection – Price tapped into the supply/FVG zone around 3,358 – 3,372 and showed rejection.
Lower highs forming – Market structure suggests bearish momentum as bulls failed to push beyond recent highs.
Liquidity targets below – There’s untapped liquidity and imbalance resting near the 3,268 level and potentially lower towards 3,200.
Macro outlook – Strong USD and hawkish Fed stance could continue to pressure gold in the mid-term.
Entry zone: 3,358 – 3,372 (already tested)
Short-term target (TP1): 3,268
Long-term target (TP2): 3,200 – 3,180 zone
Invalidation (SL): Close above 3,380
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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.