📉 What happened yesterday on Gold (XAUUSD)
I started the day under a good omen – 🎯 my 3250 target being hit perfectly.
However, what initially looked like a standard correction turned into a stronger bounce.
Gold broke back above my re-selling zone and even pushed above 3310, triggering my stop loss, and worth nothing that we are now back under 3300- I take it like a man and move forward:).
❓ Has Gold finished with the downside, or is this just a pause before another drop?
🔍 Reasons to expect more downside:
- Although Gold reversed strongly from the 3250 support, the confluence resistance around 3330 capped the move, and sellers stepped in, dragging the price back under 3300.
- The fact that price returned to support so quickly signals weak bullish momentum – buyers couldn’t sustain the rally.
- Gold failed to stabilize above the 3330 zone, which would’ve been a key bullish sign – instead, it got rejected.
- And here’s the part that doesn’t sit right – Gold came back to the 3290 zone too easily, as if the market wanted to offer a second chance to buyers who missed the initial bounce. That usually doesn’t end well.
🧭 Trading Plan
I’m currently out of the market after the stop loss hit, but my bearish bias remains unchanged.
Watching the 3280–3290 area closely – if we drop back below, I’ll look to re-enter short trades.
🚀 Final thought
Yesterday’s move reminded me who’s boss – the market. But unless bulls break key resistance and hold above, the bearish case still has more to say.
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.
I started the day under a good omen – 🎯 my 3250 target being hit perfectly.
However, what initially looked like a standard correction turned into a stronger bounce.
Gold broke back above my re-selling zone and even pushed above 3310, triggering my stop loss, and worth nothing that we are now back under 3300- I take it like a man and move forward:).
❓ Has Gold finished with the downside, or is this just a pause before another drop?
🔍 Reasons to expect more downside:
- Although Gold reversed strongly from the 3250 support, the confluence resistance around 3330 capped the move, and sellers stepped in, dragging the price back under 3300.
- The fact that price returned to support so quickly signals weak bullish momentum – buyers couldn’t sustain the rally.
- Gold failed to stabilize above the 3330 zone, which would’ve been a key bullish sign – instead, it got rejected.
- And here’s the part that doesn’t sit right – Gold came back to the 3290 zone too easily, as if the market wanted to offer a second chance to buyers who missed the initial bounce. That usually doesn’t end well.
🧭 Trading Plan
I’m currently out of the market after the stop loss hit, but my bearish bias remains unchanged.
Watching the 3280–3290 area closely – if we drop back below, I’ll look to re-enter short trades.
🚀 Final thought
Yesterday’s move reminded me who’s boss – the market. But unless bulls break key resistance and hold above, the bearish case still has more to say.
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 failed again above 3300 and now is pressing hard in support, a break will not only expose 3250, but most probably will lead to a drop to 3200 zone next week
📈 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.