Summary:
From a broader perspective, gold is in a downward trend. The main strategy remains to short on resistance pullbacks.
Long trades require confirmation across multiple timeframes. Once in profit, trail your stop to breakeven or better.
Key Levels to Watch:
3320: Resistance
3300: Psychological round-number resistance
3289: Key intraday resistance
3275: Support
3267: Major support
3255: Support
3245: Support
3238: Support
Short-Term (15m) Trading Strategy:
For Shorts:
Enter a SELL if price breaks below 3275.
First target 3267, then 3259, 3255, and 3250.
For Longs:
Enter a BUY if price holds above 3280.
First target 3289, then 3291, 3298, and 3300.
From a broader perspective, gold is in a downward trend. The main strategy remains to short on resistance pullbacks.
Long trades require confirmation across multiple timeframes. Once in profit, trail your stop to breakeven or better.
Key Levels to Watch:
3320: Resistance
3300: Psychological round-number resistance
3289: Key intraday resistance
3275: Support
3267: Major support
3255: Support
3245: Support
3238: Support
Short-Term (15m) Trading Strategy:
For Shorts:
Enter a SELL if price breaks below 3275.
First target 3267, then 3259, 3255, and 3250.
For Longs:
Enter a BUY if price holds above 3280.
First target 3289, then 3291, 3298, and 3300.
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.
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.