1. Price Action & Trend Analysis
The current price is $2,917.7, showing a slight decline of -0.02%.
The chart reflects a sideways consolidation phase, as seen within the highlighted blue rectangular range.
A support zone is forming around $2,900 - $2,910, while resistance appears near $2,930 - $2,940.
There are two possible price projections:
Bullish Scenario (Red Projection): If price sustains above the Point of Control (POC: $2,927.8), it could move upwards toward $2,950 - $2,980.
Bearish Scenario (Blue Projection): If price fails to hold $2,910, further downside toward $2,870 - $2,850 is likely.
2. Volume Profile & Point of Control (POC)
POC: $2,927.8 is the area with the highest traded volume, acting as a key resistance level.
Volume Analysis:
Last 60 bars show up volume (295.541K) < down volume (243.149K), suggesting bearish dominance with 15.47% more selling pressure.
If price remains below POC, a bearish breakdown is possible.
3. Support & Resistance Levels
Immediate Resistance: $2,927 - $2,930 (POC level)
Next Resistance: $2,950 - $2,980 (Projected upside)
Immediate Support: $2,910 - $2,900 (Lower range)
Key Support Zone: $2,870 - $2,850 (Bearish target if breakdown occurs)
4. Trend Channels & Market Structure
Two projected channels are present:
Bullish Channel (Red) suggests an upward breakout could lead to $2,950 - $2,980.
Bearish Channel (Blue) shows a breakdown could target $2,870 - $2,850.
5. Trading Strategy Suggestions
Bullish Bias:
A breakout above $2,930 - $2,940 could push price toward $2,950 - $2,980.
Buy if price sustains above POC ($2,927.8) with a stop-loss below $2,910.
Bearish Bias:
A breakdown below $2,910 could trigger a drop to $2,870 - $2,850.
Sell if price fails at $2,927.8 and breaks below $2,910, with a stop-loss above $2,930.
Conclusion
POC ($2,927.8) is the key level to watch for direction.
If price stays below POC, expect further bearish movement.
A breakout above $2,930 could trigger bullish continuation.
The volume analysis favors bears slightly, but confirmation is needed.
Gold Futures (COMEX) - 1H Trade Setup & Risk Management
Since the market is in consolidation near the Point of Control (POC: $2,927.8), we will set up both bullish and bearish trade scenarios based on price action.
📈 Bullish Trade Setup (Breakout Above $2,930 - $2,940)
Entry:
Buy above $2,932 - $2,935 (Confirmation of breakout & retest).
Wait for a strong candle close above resistance ($2,930) with increasing volume.
Target Levels:
Target 1: $2,950
Target 2: $2,970
Target 3: $2,980
Stop-Loss:
Place SL below $2,910 (Strong support level).
Risk-Reward Ratio (RRR):
Target 1: ~1:2
Target 2: ~1:3
Target 3: ~1:4
📉 Bearish Trade Setup (Breakdown Below $2,910)
Entry:
Sell below $2,907 - $2,905 after a clear breakdown with strong volume.
Ideally, wait for a retest of $2,910 as resistance before shorting.
Target Levels:
Target 1: $2,880
Target 2: $2,870
Target 3: $2,850
Stop-Loss:
Place SL above $2,930 (Key resistance level & POC).
Risk-Reward Ratio (RRR):
Target 1: ~1:2
Target 2: ~1:3
Target 3: ~1:4
🔹 Risk Management Tips
✅ Trade only after confirmation (Breakout or breakdown with volume).
✅ Risk per trade: Keep it 1-2% of your capital.
✅ Avoid trading inside the range ($2,910 - $2,930) unless there's a strong move.
✅ Use trailing stop-loss to secure profits once price moves in favor.
🔥 Final Thoughts
If price holds above POC ($2,927.8) → Expect bullish move toward $2,950 - $2,980.
If price rejects POC & breaks $2,910, expect bearish drop to $2,870 - $2,850.
Volume favors bears slightly, but confirmation is key before taking trades.
The current price is $2,917.7, showing a slight decline of -0.02%.
The chart reflects a sideways consolidation phase, as seen within the highlighted blue rectangular range.
A support zone is forming around $2,900 - $2,910, while resistance appears near $2,930 - $2,940.
There are two possible price projections:
Bullish Scenario (Red Projection): If price sustains above the Point of Control (POC: $2,927.8), it could move upwards toward $2,950 - $2,980.
Bearish Scenario (Blue Projection): If price fails to hold $2,910, further downside toward $2,870 - $2,850 is likely.
2. Volume Profile & Point of Control (POC)
POC: $2,927.8 is the area with the highest traded volume, acting as a key resistance level.
Volume Analysis:
Last 60 bars show up volume (295.541K) < down volume (243.149K), suggesting bearish dominance with 15.47% more selling pressure.
If price remains below POC, a bearish breakdown is possible.
3. Support & Resistance Levels
Immediate Resistance: $2,927 - $2,930 (POC level)
Next Resistance: $2,950 - $2,980 (Projected upside)
Immediate Support: $2,910 - $2,900 (Lower range)
Key Support Zone: $2,870 - $2,850 (Bearish target if breakdown occurs)
4. Trend Channels & Market Structure
Two projected channels are present:
Bullish Channel (Red) suggests an upward breakout could lead to $2,950 - $2,980.
Bearish Channel (Blue) shows a breakdown could target $2,870 - $2,850.
5. Trading Strategy Suggestions
Bullish Bias:
A breakout above $2,930 - $2,940 could push price toward $2,950 - $2,980.
Buy if price sustains above POC ($2,927.8) with a stop-loss below $2,910.
Bearish Bias:
A breakdown below $2,910 could trigger a drop to $2,870 - $2,850.
Sell if price fails at $2,927.8 and breaks below $2,910, with a stop-loss above $2,930.
Conclusion
POC ($2,927.8) is the key level to watch for direction.
If price stays below POC, expect further bearish movement.
A breakout above $2,930 could trigger bullish continuation.
The volume analysis favors bears slightly, but confirmation is needed.
Gold Futures (COMEX) - 1H Trade Setup & Risk Management
Since the market is in consolidation near the Point of Control (POC: $2,927.8), we will set up both bullish and bearish trade scenarios based on price action.
📈 Bullish Trade Setup (Breakout Above $2,930 - $2,940)
Entry:
Buy above $2,932 - $2,935 (Confirmation of breakout & retest).
Wait for a strong candle close above resistance ($2,930) with increasing volume.
Target Levels:
Target 1: $2,950
Target 2: $2,970
Target 3: $2,980
Stop-Loss:
Place SL below $2,910 (Strong support level).
Risk-Reward Ratio (RRR):
Target 1: ~1:2
Target 2: ~1:3
Target 3: ~1:4
📉 Bearish Trade Setup (Breakdown Below $2,910)
Entry:
Sell below $2,907 - $2,905 after a clear breakdown with strong volume.
Ideally, wait for a retest of $2,910 as resistance before shorting.
Target Levels:
Target 1: $2,880
Target 2: $2,870
Target 3: $2,850
Stop-Loss:
Place SL above $2,930 (Key resistance level & POC).
Risk-Reward Ratio (RRR):
Target 1: ~1:2
Target 2: ~1:3
Target 3: ~1:4
🔹 Risk Management Tips
✅ Trade only after confirmation (Breakout or breakdown with volume).
✅ Risk per trade: Keep it 1-2% of your capital.
✅ Avoid trading inside the range ($2,910 - $2,930) unless there's a strong move.
✅ Use trailing stop-loss to secure profits once price moves in favor.
🔥 Final Thoughts
If price holds above POC ($2,927.8) → Expect bullish move toward $2,950 - $2,980.
If price rejects POC & breaks $2,910, expect bearish drop to $2,870 - $2,850.
Volume favors bears slightly, but confirmation is key before taking trades.
Bharat Pandya @ProspireWealth
+91 9624044866
pandyabn76@gmail.com
+91 9624044866
pandyabn76@gmail.com
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.
Bharat Pandya @ProspireWealth
+91 9624044866
pandyabn76@gmail.com
+91 9624044866
pandyabn76@gmail.com
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.