Today’s price action on Gold presented a textbook structure shift:
Break of Structure occurred after price respected the Demand Zone around the 3,315–3,320 region, showing strong buying interest and a volume spike confirming bullish intent.
Price surged past the key resistance near 3,340, breaking above the 200 SMA and reclaiming a prior consolidation zone. This move invalidated recent bearish pressure and confirmed a bullish reversal.
Supply Zone around 3,370 has been retested with rejection, causing a minor pullback. Price is now consolidating in a bullish flag pattern just above the 200 SMA, suggesting a potential continuation.
Outlook: If price holds above the gray demand/flip zone and breaks out of the flag, we could see continuation toward the supply zone highs. RSI remains neutral, giving room for momentum to build.
This is a clean example of structure-driven trading combined with zone analysis and volume confirmation.
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Break of Structure occurred after price respected the Demand Zone around the 3,315–3,320 region, showing strong buying interest and a volume spike confirming bullish intent.
Price surged past the key resistance near 3,340, breaking above the 200 SMA and reclaiming a prior consolidation zone. This move invalidated recent bearish pressure and confirmed a bullish reversal.
Supply Zone around 3,370 has been retested with rejection, causing a minor pullback. Price is now consolidating in a bullish flag pattern just above the 200 SMA, suggesting a potential continuation.
Outlook: If price holds above the gray demand/flip zone and breaks out of the flag, we could see continuation toward the supply zone highs. RSI remains neutral, giving room for momentum to build.
This is a clean example of structure-driven trading combined with zone analysis and volume confirmation.
Follow GoldenZoneFX for more content and valuable insights.
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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.