Gold has broken below the key support/resistance zone (Monday Low).
Here's what to watch next:
✅ Bullish Scenario (Green Arrow)
If price reclaims the Monday Low and forms a deviation (fake breakdown), we could see a recovery move. With gold having retraced nearly 8%, there's potential for a strong rebound.
⚠️ Bearish Scenario (Red Arrow)
If price fails to reclaim the Monday Low and continues down, we may see further downside toward the midrange level. A break below that opens the door to a drop toward the previous month’s low.
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🔍 Strategy Notes:
* All key ranges have been mapped for you.
* Consider marking quarter ranges on lower timeframes for more precise entries and exits.
* Trade level-to-level:
* If a level breaks, target the next.
* Take partial profits at each key level.
* Use these S/R zones as invalidation points to manage risk.
Follow for trading setups.
Here's what to watch next:
✅ Bullish Scenario (Green Arrow)
If price reclaims the Monday Low and forms a deviation (fake breakdown), we could see a recovery move. With gold having retraced nearly 8%, there's potential for a strong rebound.
⚠️ Bearish Scenario (Red Arrow)
If price fails to reclaim the Monday Low and continues down, we may see further downside toward the midrange level. A break below that opens the door to a drop toward the previous month’s low.
---
🔍 Strategy Notes:
* All key ranges have been mapped for you.
* Consider marking quarter ranges on lower timeframes for more precise entries and exits.
* Trade level-to-level:
* If a level breaks, target the next.
* Take partial profits at each key level.
* Use these S/R zones as invalidation points to manage risk.
Follow for trading setups.
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.