Gold failed to show a decisive move yesterday as expected, and the market continues to trade within a tight range between 3260 and 3300, resulting in limited profit opportunities.
As of this update, price remains in sideways consolidation, with 3260 having been tested for the fifth time, indicating that this support level may be weakening.
🔍 Technical Outlook:
Given that current price levels are closer to the 3220 key support zone, it's more likely that the market will dip lower to test support before any meaningful rebound.
The inability to break above 3300 strengthens the case for a near-term bearish move.
✅ Trading Recommendations for Today:
🔻 Sell Zone (Short Entries):
3310–3330
🔺 Buy Zone (Long Entries):
3230–3200
⚠️ Manage position sizes carefully, and wait for confirmation of support before committing to larger entries.
As of this update, price remains in sideways consolidation, with 3260 having been tested for the fifth time, indicating that this support level may be weakening.
🔍 Technical Outlook:
Given that current price levels are closer to the 3220 key support zone, it's more likely that the market will dip lower to test support before any meaningful rebound.
The inability to break above 3300 strengthens the case for a near-term bearish move.
✅ Trading Recommendations for Today:
🔻 Sell Zone (Short Entries):
3310–3330
🔺 Buy Zone (Long Entries):
3230–3200
⚠️ Manage position sizes carefully, and wait for confirmation of support before committing to larger entries.
Note
Today is Labor Day in China, and we have a one-week holiday. I’ll be traveling with my family and plan to return home on May 10. During this period, my update times may be irregular, but I will publish strategies in a timely manner whenever I have time.In the meantime, please pay attention to buying opportunities in the 3168–3130 range. If the price falls to this zone, it may rebound toward the 3200 level. We’ll reassess the situation at that point—if the bulls regain momentum, the area around 3160, which has been tested multiple times recently, could become a new resistance level.
If the bears remain strong, the 3100–3049 range serves as a solid support zone. In that area, prioritize buying rather than selling, even if it means making smaller profits—avoiding trapped positions is more important.
Also, be mindful of position sizing to avoid unnecessary risks from heavy positions. If there are any unexpected market moves or major news events, I’ll do my best to find time to alert everyone. While the holiday is a time to rest, the market keeps moving—I wish you all smooth trades and profitable results during the break!
Trade active
I’ll be away in 2 hours, so tomorrow’s full update will be posted during the U.S. trading session. Before that, please follow this brief guide for today's trading:🎯 Intraday Trading Focus:
🔹 Main Strategy: Buy on Dips
Gold has already made an initial pullback toward the 3200 zone. Even if 3200 is not fully tested, the 3230 level is very likely to be retested multiple times by bulls.
🔹 Critical Resistance Zone: 3260–3280
If the price moves up into this area before the U.S. session, avoid chasing long positions blindly.
Wait for a pullback and observe the balance between bulls and bears before entering.
⚠️ If you decide to chase a long:
Keep your position size small
Set conservative targets
Prioritize short-term entries and exits to avoid being caught in range-bound traps.
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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.
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.