📊 Market Context
After a sharp selloff from the $3,160 region to sub-$2,980 levels, the market is now in recovery/consolidation mode.
Market currently hovers around $3,010 after bouncing from below $2,980, indicating buyer interest.
📏 Fibonacci + Support Confluence Zones
Price may pull back and give a buy-the-dip opportunity.
✅ Buy Zone 1 – $2,993–2,997
Reason: Retest of strong horizontal support, Fibonacci .5% area.
Signal to Enter Long: Bullish engulfing / hammer on M5/M15 + RSI divergence.
Target: $3,010 (first), $3,020+ (extended).
🔁 Retest Logic
Wait for price to retest any of these zones on low volume → watch for bullish candle close.
⚠️ Important Notes
Avoid entering mid-range trades at $3,010–$3,015 without pullback confirmation.
Aggressive buys can be scalped on momentum breakouts of $3,020 only if volume supports.
Always monitor for news or sudden volume spikes which can invalidate pullback zones.
Follow, comment, like and join for more like analysis.
After a sharp selloff from the $3,160 region to sub-$2,980 levels, the market is now in recovery/consolidation mode.
Market currently hovers around $3,010 after bouncing from below $2,980, indicating buyer interest.
📏 Fibonacci + Support Confluence Zones
Price may pull back and give a buy-the-dip opportunity.
✅ Buy Zone 1 – $2,993–2,997
Reason: Retest of strong horizontal support, Fibonacci .5% area.
Signal to Enter Long: Bullish engulfing / hammer on M5/M15 + RSI divergence.
Target: $3,010 (first), $3,020+ (extended).
🔁 Retest Logic
Wait for price to retest any of these zones on low volume → watch for bullish candle close.
⚠️ Important Notes
Avoid entering mid-range trades at $3,010–$3,015 without pullback confirmation.
Aggressive buys can be scalped on momentum breakouts of $3,020 only if volume supports.
Always monitor for news or sudden volume spikes which can invalidate pullback zones.
Follow, comment, like and join for more like analysis.
Trade active
Highly highly bullish, as analyzed. The levels got respected and gold going strong. 400 pips.
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t.me/+6YQX9c4-BiQ2M2M8
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twitter.com/QuinnGoldTrader
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.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
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.