Yesterday's intraday recommendation to buy near 3260 has paid off, with gold trending upward after the market opened today and generating solid profits.
The current pullback appears to be a healthy support retest. However, caution is needed—if the price breaks below 3306, momentum could drag it under 3300 again.
Should that happen, a renewed long position at lower levels is still worth considering. The rebound so far lacks both strength and duration, suggesting a potential shakeout. While it could also be a bull trap, entering at lower levels limits downside risk—with the worst case being reduced profits, not significant losses.
Today's Trading Strategy:
Sell Zone: 3410–3440
Buy Zone: 3267–3230
Flexible Trading Zones: 3383–3340 / 3288–3336
The current pullback appears to be a healthy support retest. However, caution is needed—if the price breaks below 3306, momentum could drag it under 3300 again.
Should that happen, a renewed long position at lower levels is still worth considering. The rebound so far lacks both strength and duration, suggesting a potential shakeout. While it could also be a bull trap, entering at lower levels limits downside risk—with the worst case being reduced profits, not significant losses.
Today's Trading Strategy:
Sell Zone: 3410–3440
Buy Zone: 3267–3230
Flexible Trading Zones: 3383–3340 / 3288–3336
Trade active
Gold traded within a narrow range today, but showed solid technical behavior. After testing the key 3306 support level without breaking below, prices rebounded decisively—confirming the strength of this level. Our suggested long entry has already yielded a decent profit.The overall trend remains bullish. If there are no unexpected bearish catalysts, there is still room for further upside. Conservative traders may consider locking in profits now, while those willing to ride the trend can continue to hold with a trailing stop in place.
🔁Trade Summary:
Hold long positions to observe further upside momentum;
If already in good profit, consider partial or full profit-taking;
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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.
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.