In the previous US session, strong buying pressure pushed gold prices up and formed a bullish hammer candlestick pattern on the D1 chart - a potential sign for an uptrend recovery.
🔄 Today's scenario: The correction in the early session is considered a good opportunity to buy, expecting the price to continue the uptrend.
📍 Nearest resistance zone:
The price is currently facing the resistance zone of 3344 in the European session. If gold breaks 3344, the next target will be 3365 - the gap zone that has not been filled.
However, according to the wave structure, it would be more optimal if the price has a retest to the 3320 zone, accumulates more buying momentum and then breaks out strongly through 3344.
📉 Bearish scenario:
If 3320 is broken, especially with a trendline and support zone breakout signal, a sell strategy can be activated with a lower target.
🔸 Support: 3320 – 3297
🔸 Resistance: 3345 – 3352 – 3365
🔸 Sell is triggered if: Price breaks 3320, confirms breaking trendline & support zone.
💬 Do you have any comments on this trading plan? Leave a comment!
🔄 Today's scenario: The correction in the early session is considered a good opportunity to buy, expecting the price to continue the uptrend.
📍 Nearest resistance zone:
The price is currently facing the resistance zone of 3344 in the European session. If gold breaks 3344, the next target will be 3365 - the gap zone that has not been filled.
However, according to the wave structure, it would be more optimal if the price has a retest to the 3320 zone, accumulates more buying momentum and then breaks out strongly through 3344.
📉 Bearish scenario:
If 3320 is broken, especially with a trendline and support zone breakout signal, a sell strategy can be activated with a lower target.
🔸 Support: 3320 – 3297
🔸 Resistance: 3345 – 3352 – 3365
🔸 Sell is triggered if: Price breaks 3320, confirms breaking trendline & support zone.
💬 Do you have any comments on this trading plan? Leave a comment!
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JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.