XAUUSD trade ideas
XAUUSD , Bullish Setup , R:R 17Hello friends
I am back after a long time and I want to share the results of my efforts of several years with you.
Gold is starting a 5th wave of bullishness and yesterday it gave us the necessary confirmations by rejecting the previous ceiling. I have identified the best buying position for you now. With a reward to risk 17
Take advantage of this opportunity.
If you are interested in Elliott waves or work in this field at a professional level, contact me and share your analysis with me.
I hope we will all be profitable together.
July 17, 2025 - XAUUSD GOLD Analysis and Potential OpportunitySummary:
Although price pierced above 3375, it failed to hold. The market remains range-bound between 3320 and 3375 — treat it as a range for now, favoring shorts near the top and longs near the bottom. On a narrower view, 3358 is a key resistance — shorting near 3358 offers good risk-reward. Watch the strength of support around 3346. Stay flexible, respect key levels, follow the trend, and manage risk wisely.
🔍 Key Levels to Watch:
• 3393 – Resistance
• 3384 – Resistance
• 3375 – Top of range
• 3366 – Resistance
• 3358 – Resistance
• 3350 – Midpoint
• 3343 – Key support
• 3332–3336 – Support zone
• 3320 – Intraday key support / Bottom of range
• 3310 – Support
• 3300 – Psychological level
📈 Intraday Strategy:
• SELL if price breaks below 3346 → watch 3343, then 3336, 3332, 3325
• BUY if price holds above 3358 → target 3366, then 3370, 3377, 3384
👉 If you’d like to learn how I time my entries and place stop-losses, give this post a like — if enough people are interested, I’ll update this post to include more details soon!
Disclaimer: This is my personal opinion, not financial advice. Always trade with proper risk management.
Fake news stirs up the market, market trend analysis📰 News information:
1. Beige Book of Federal Reserve's economic situation
2. European and American tariff trade negotiations
📈 Technical Analysis:
Today, our overall trading can be said to have accurately grasped the trading points, and both long and short positions have earned us good profits.The gold market surged due to Trump's intention to fire Powell. Trump then denied the plan, which dissipated the risk aversion in the gold market and the overall rhythm fell back to a volatile pattern. The current market price of gold closed with a long upper shadow line, indicating that there is a certain need for adjustment in the market. Although the news stimulus has pushed it up to 3377, we need to be vigilant against the risk of a decline after a high rise. Pay attention to today's closing. If it closes below 3345, the bearish trend may continue in the future.
OANDA:XAUUSD PEPPERSTONE:XAUUSD FOREXCOM:XAUUSD FX:XAUUSD OANDA:XAUUSD FXOPEN:XAUUSD
Gold market trend analysis and exclusive analysis.Analysis of the latest gold market trends:
Analysis of gold news: The U.S. Department of Labor released the much-anticipated June Consumer Price Index (CPI) data at 20:30 Beijing time. After the CPI data was released, the financial market responded quickly, showing investors' recalibration of inflation data and monetary policy expectations. The U.S. dollar index (DXY) fell 16 points in the short term after the data was released, reflecting the market's interpretation of the core CPI being slightly lower than expected, which was dovish. The gold market reacted particularly sensitively. The core CPI was lower than expected, pushing spot gold up by $6 in the short term, indicating a brief rebound in safe-haven demand. In the short term, the probability of the Federal Reserve keeping interest rates unchanged in July is close to 100%, but the mild performance of the core CPI reserves the possibility of a rate cut in September or earlier. The market needs to pay close attention to subsequent data, especially the July CPI and PCE price index, to determine whether inflation will continue to rise.
Gold technical analysis: This week's upward breakthrough of 3375 further bullish on the 3400 mark; the daily average line diverges upward to support bulls, and bullish on bullish gains. However, if you want to rise, you must exert your strength today, otherwise the bulls may end at any time! The current support level is near the daily MA5 and the middle track. The next step is still the focus. If you want to rise, you can't go down here. Going down means continuing to sweep back to 3320 and 3300. Today's European session also broke high without continuation, and the US session formed a retracement to test the MA5 support level. As long as the middle track is not lost, the short-term will continue to touch the high, so the operation is very clear. In the short term, the short-term will rely on the support of the middle track to see a rebound, and the upper resistance is 3665-3375. The daily Bollinger Bands continue to close. If the upper 3375 is not broken, do not chase the high position, and beware of high-level selling. On the whole, today's short-term operation of gold recommends that the callback is mainly long, and the rebound is supplemented. The upper short-term focus is on the 3350-3360 line resistance, and the lower short-term focus is on the 3320-3310 line support.
GOLD - at cit n reverse area? What's next??#GOLD... market perfectly moved as per our video analysis and now market just reached at his current ultimate swing area
That is around 3402
So if market holds 3402 in that case selling expected otherwise not.
NOTE: we will go for cut n reverse above 3402 on confirmation.
Good luck
Trade wisely
GOLD (XAUUSD) Long Idea – Breakout Confirmation📆 Timeframe: 4H
📈 Type: Long (Buy)
🎯 Entry: Around 3348-3355
🎯 Target: 3451
NOTE: Price has respected the ascending trendline from early July.
Clean breakout from a consolidation range after several rejections near 3365 resistance.
Bullish structure confirmed with higher lows and higher highs.
Fibonacci levels and support zone at ~3344 are holding strong.
Targets set at prior resistance zone (~3451), aligning with liquidity zone.
Is Gold Preparing for a Breakout — or a Trap? 🟡 Is Gold Preparing for a Breakout — or a Trap? Let’s break down the latest market data 👇
⸻
🟥 1. U.S. Inflation News (PPI & Core PPI)
Report Previous Forecast Actual
Monthly PPI 0.1% 0.2% 0.0%
Core PPI 0.1% 0.2% 0.0%
📉 Result: Very bearish for the U.S. dollar
→ Inflation is cooling
→ Fed may pause rate hikes
→ Interest rates could stabilize or drop
→ And gold loves that kind of setup 😍
⸻
🟫 2. U.S. Crude Oil Inventory Report
Report Previous Forecast Actual
Crude Oil Inventories +7.07M –1.80M –3.85M
🟢 Result: Very bullish for oil
→ Energy demand is higher than expected
→ Inflation could creep back up due to rising oil prices
→ That makes investors run to gold as a hedge against inflation 🔥
⸻
🧠 Technical & Market Outlook for XAU/USD:
📈 Gold pushed from $3,319 to $3,377
↩️ Now it’s in a pullback, testing Fibonacci levels:
• 38% retracement near $3,350
• 61% retracement near $3,339
📉 But… these pullbacks are happening with positive delta and absorption → which signals smart buying from below 👀
✅ Additional signs:
• VWAP is stable
• Volume is holding around the POC
• And macro data is clearly supporting upside momentum
⸻
🎯 Trading Plan:
• ✅ Entry Zones: $3,350 or $3,339
• 🛑 Stop Loss: Below $3,319 (recent low)
• 🎯 TP1: $3,377
• 🎯 TP2: $3,392 – $3,400
• ⚠️ Watch for a breakout above $3,377 with strong volume — that would confirm the real move.
⸻
🔄 Summary:
💥 Two major news events today are supporting gold:
1. Weak PPI = possible pause in rate hikes
2. Rising oil = renewed inflation risk
So gold is getting support from both angles.
But stay cautious — any surprise statement from the Fed or a sudden USD rally could change the game
Gold Market Eyes 3330's as Bullish Wedge MaturesGold market maintains its stance within the bullish build-up, moving in alignment with a wedge completion structure. The 3360's act as short-term resistance, while price looks set to mitigate and sweep pending orders at 3330's. A potential retracement before continuation—stay sharp.
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Learn the 3 TYPES of MARKET ANALYSIS in Gold Forex Trading
In the today's post, we will discuss 3 types of analysis of a financial market.
🛠1 - Technical Analysis
Technical analysis focuses on p rice action, key levels, technical indicators and technical tools for the assessment of a market sentiment.
Pure technician thoroughly believes that the price chart reflects all the news, all the actions of big and small players. With a proper application of technical strategies, technical analysts make predictions and identify trading opportunities.
In the example above, the trader applies price action patterns, candlestick analysis, key levels and 2 technical indicators to make a prediction that the market will drop to a key horizontal support from a solid horizontal resistance.
📰2 - Fundamental Analysis
Fundamental analysts assess the key factors and related data that drive the value of an asset.
These factors are diverse: it can be geopolitical events, macro and micro economic news, financial statements, etc.
Fundamental traders usually make trading decision and forecasts, relying on fundamental data alone and completely neglecting a chart analysis.
Price action on Gold on a daily time frame could be easily predicted, applying a fundamental analysis.
A bearish trend was driven by FED Interest Rates tightening program,
while a strong bullish rally initiated after escalation of Israeli-Palestinian conflict.
📊🔬 3 - Combination of Technical and Fundamental Analysis
Such traders combine the principles of both Technical and Fundamental approaches.
When they are looking for trading opportunities, they analyze the price chart and make predictions accordingly.
Then, they analyze the current related fundamentals and compare the technical and fundamental biases.
If the outlooks match , one opens a trading position.
In the example above, Gold reached a solid horizontal daily support.
Testing the underlined structure, the price formed a falling wedge pattern and a double bottom, breaking both a horizontal neckline and a resistance of the wedge.
These were 2 significant bullish technical confirmation.
At the same time, the escalation of Israeli-Palestinian conflict left a very bullish fundamental confirmation.
It is an endless debate which method is better.
Each has its own pros and cons.
I strongly believe that one can make money mastering any of those.
Just choose the method that you prefer, study it, practice and one day you will make it.
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
XAU/USD Update: Ready for a 12% Surge?Welcome back, traders, it’s Skeptic! 😎 Is XAU/USD about to explode or crash?
We’ve formed a symmetrical triangle pattern , and its breakout triggers could deliver solid profits for longs or shorts. Let’s dive into the details with the Daily timeframe to see the big picture.
✔️ Daily Timeframe: Our HWC is strongly bullish. After hitting $ 3,497.80 , we entered a secondary retracement phase, forming a symmetrical triangle. If we break resistance at $ 3,444.18 , my targets are the next ceiling at $ 3,494.50 and, long-term, $ 3,796.64 . But if we break support at $ 3,796.64 , it could signal a major trend change from uptrend to downtrend, opening shorts. Next supports are $ 3,206.32 and $ 3,019.31 —use these as your targets.
📊 Key Insight : Risk management is key to surviving financial markets. Stick to max 1%–2% risk per trade to stay safe.
📉 Market Context: Markets are predicting a major recession in the U.S. economy. If it happens, Gold will be the only safe-haven asset. So, I personally favor riding Gold’s uptrend.
This historic drop screams one thing: global markets are losing faith in U.S. monetary and fiscal policies, big time.
And that’s a loud wake-up call for investors: It’s time to bulletproof your portfolio. What’s that mean?
Your stocks, real estate, cash, bonds , you name it...
They’re slowly but surely turning to Gold .
💬 Let’s Talk!
Which Gold trigger are you eyeing? Hit the comments, and let’s crush it together! 😊 If this update lit your fire, smash that boost—it fuels my mission! ✌️
Gold Price Update: Key Breakout Level in Sight – Watch $3,434! Technical Analysis – XAU/USD
Current Price: $3,371
Gold is trading inside a rising wedge pattern with strong resistance at $3,434.
A daily candle close above $3,434 could trigger a breakout toward:
🎯 Target 1: $3,540
🎯 Target 2: $3,756
If rejected at resistance, price may drop to:
⚠️ Support 1: $3,325
⚠️ Support 2: $3,001 (major weekly support)
🌍 Fundamental Outlook
CPI Data Impact:
Higher CPI → Gold bearish (rate hikes expected)
Lower CPI → Gold bullish (rate cuts or pause likely)
Federal Reserve Policy:
Hawkish = Negative for gold
Dovish = Positive for gold
Other Drivers:
USD Strength
Geopolitical risks
Central bank gold buying
Gold Bullish Above 3342 – Watching 3365 BreakoutGold Futures Rise on Trade & Geopolitical Tensions
Gold continues to gain as renewed tariff threats from the U.S. and rising geopolitical risks weigh on market sentiment.
While markets have become somewhat desensitized to Trump’s recurring trade rhetoric, concerns remain that resolutions may be delayed.
Technical Outlook:
As long as the price holds above 3342, the bullish trend is likely to continue toward 3355 and 3365.
A stable close above 3365 would open the way to 3395.
However, a 1H close below 3342 may trigger a pullback to 3329.
Pivot: 3342
Resistance: 3355, 3365, 3395
Support: 3329, 3319, 3309
Gold 30Min Engaged ( Two Bullish Entry's Detected )Time Frame: 30-Minute Warfare
Entry Protocol: Only after volume-verified breakout
🩸Bullish Reversal 3311 Zone
🩸Bullish Break 3343 Zone
➗ Hanzo Protocol: Volume-Tiered Entry Authority
➕ Zone Activated: Dynamic market pressure detected.
The level isn’t just price — it’s a memory of where they moved size.
Volume is rising beneath the surface — not noise, but preparation.
🔥 Tactical Note:
We wait for the energy signature — when volume betrays intention.
The trap gets set. The weak follow. We execute.
Report - 10 jully, 2025Germany Pushes European Rearmament — Supply Chain Call to Action
Key Developments
German Defense Minister Boris Pistorius demands the defense industry “stop complaining and deliver,” pushing for accelerated production.
Berlin plans to raise annual defense spending to €162 billion by 2029 (+70% vs. current), the largest defense expansion since WWII.
Focus on munitions, drones, tanks, submarines, fighter jets.
Long-term contracts with annual purchase obligations to provide production certainty and encourage new capacity.
Meeting with US Defense Secretary Pete Hegseth to secure US support and coordinate Patriot missile supply (Germany has only 6 left).
Despite Ukraine’s renewed requests, Germany will not send Taurus long-range missiles.
Strategic Analysis
Germany’s pivot (the "Zeitenwende") signals a historic shift toward a leadership role in European defense, stepping up as US support for continental security wanes. The move reshapes Europe's industrial base and procurement priorities, creating a structural, multiyear demand boom in defense production.
This strategic acceleration responds to:
Russia's aggression and rapid advances in Ukraine.
A fragmented EU defense industry needing standardization and scale.
The risk that delays in rearmament could embolden adversaries.
Market & Investment Implications
Bullish outlook for European defense primes: Rheinmetall, Hensoldt, KMW, and MBDA.
Strong orders pipeline supports supplier valuations and capital investments.
Defense-focused ETFs and long-cycle industrial funds gain attractiveness.
Potential execution risks: capacity bottlenecks and regulatory procurement hurdles.
North Korea’s Unconditional Support to Russia — New Security Axis
Key Developments
Kim Jong Un pledges "unconditional support" for Russia’s Ukraine war effort during Lavrov’s visit.
North Korea has reportedly sent 13,000 troops and 12 million artillery shells since October, with plans for more troops this summer.
Joint military and economic ties deepening: possible new infrastructure projects and North Korean goods in Russian markets.
Strategic Analysis
The explicit military alliance between Moscow and Pyongyang cements a new anti-Western axis in Northeast Asia. North Korean boots on the ground in Ukraine (even indirectly) create significant escalation risks and could legitimize wider allied responses.
Market & Security Implications
Increases global defense spending momentum, particularly in missile defense and artillery systems.
Heightens regional security risk premium in Northeast Asia, reinforcing demand for US-Japan-Korea trilateral cooperation.
Potential new sanctions regimes targeting Russian and North Korean trade.
EU to Intensify Foreign Subsidy Investigations
Key Developments
EU to expand probes into foreign-subsidized companies, particularly Chinese, using the Foreign Subsidies Regulation (FSR).
Target sectors: chemicals, pharmaceuticals, cars, batteries, and green tech.
FSR empowers Brussels to block public procurement bids, M&A deals, and restrict single-market access.
Strategic Analysis
A clear industrial policy pivot: Brussels seeks to protect European value chains, local talent, and technological sovereignty. The EU is signaling it will emulate China’s own JV requirements to force knowledge transfer and local investment.
Market & Corporate Implications
Defensive boost for EU industrial and tech players — potential reshoring and local capacity expansion.
Risks for Chinese EV, solar, and battery players in Europe.
New compliance costs and operational hurdles for multinationals with Chinese JV exposure.
EU Temporarily Suspends Tariff Retaliation Against US
Key Developments
EU delays €21 billion in planned retaliatory tariffs on US exports following Trump’s 30% tariff threat.
Negotiations ongoing; additional €72 billion of potential retaliatory measures being prepared.
Germany’s finance minister stresses continued “serious talks,” warning of possible decisive countermeasures if negotiations fail.
Strategic Analysis
EU seeks to avoid a major trade war escalation that could hit vulnerable industries (aircraft, agriculture, luxury goods). The postponement reflects both economic pragmatism and strategic patience.
Market Implications
Near-term relief for European cyclical exporters and automotive supply chains.
Volatility risk persists; underlying uncertainty keeps global supply chain hedging active.
Global Health Risks from Western Aid Cuts
Key Developments
Wellcome Trust warns that sharp cuts in Western aid (e.g., 83% of USAID programs, UK’s 40% cut) could lead to deaths exceeding those caused by COVID-19 in Africa and other regions.
Reductions threaten vaccination programs, HIV/AIDS prevention, and basic health infrastructure.
Strategic & Social Implications
Rising health crises could create regional instability, migration pressures, and political fragility.
Potential for emergent humanitarian crises to undermine global economic resilience and security.
Crypto Firms Move Toward US Banking Integration
Key Developments
Ripple, Circle, and BitGo seek national banking charters; Kraken to launch crypto-backed debit/credit cards.
Trump administration’s pro-digital asset stance and proposed Genius Act accelerating integration of stablecoins with Treasury backing.
Strategic Analysis
Crypto players are rapidly shifting from an anti-establishment stance to a regulated model, seeking legitimacy and direct ties to the US banking system. This is a major strategic pivot toward mass-market adoption and integration.
Market Implications
Growth catalysts for regulated digital asset ecosystems.
Opportunities in infrastructure (custody, payment rails, compliance tech).
Regulatory framework evolution remains a key risk factor.
US-Japan Relations Enter Critical Phase
Key Developments
Sharp deterioration in US-Japan ties as Trump imposes tariffs and demands higher defense spending (up to 3.5% of GDP).
Japan’s requests for tariff exemptions rebuffed; possible alliance strain.
US threatens to halt Okinawa troop relocation plans, creating a defense strategy crisis.
Strategic Analysis
Deepening transactional approach by US administration risks destabilizing one of Washington’s most strategic alliances. Japan’s ability to recalibrate is limited, leading to potential security vulnerabilities vis-à-vis China and North Korea.
Market & Policy Implications
Elevated geopolitical risk premium in Asia-Pacific.
Potential reassessment of Japanese defense contractors and broader regional security investments.
Possible long-term tailwinds for local defense and cybersecurity initiatives.
Copper Tariff Uncertainty — Global Supply Chain Alert
Key Developments
US plans 50% copper tariffs from August 1; manufacturers seek clarity.
Copper critical for EVs, semiconductors, defense, and green infrastructure.
Stockpiles may last 6–9 months; longer-term supply risk remains acute.
Strategic & Market Implications
Significant inflationary pressures in downstream sectors.
Supply chain disruptions could affect US manufacturing competitiveness, defense readiness, and green transition timelines.
Potential opportunities for non-US copper producers and recyclers.
Apollo's UK Pension Play — Bulk Annuities Strategy
Key Developments
Athora (Apollo-backed) acquires Pension Insurance Corporation for £5.7bn, entering the UK’s £500bn pension de-risking market.
Signals strategy shift as US private capital increasingly integrates with retirement and insurance liabilities.
Strategic Analysis
Apollo’s model of “permanent capital” (buying long-duration liabilities to invest in high-yielding private assets) advances further into Europe. The move addresses demographic pressures and opens new fee streams.
Market Implications
Bullish for Apollo and similar alternative asset managers.
Heightened scrutiny by regulators on risk transfer and solvency.
UK pension de-risking market consolidation may create opportunities for specialized asset managers.
Overall Global Themes & Recommendations
Themes
Structural defense rearmament and deterrence strategies reshaping Europe and Asia.
Geopolitical realignments create new economic blocs and challenge global supply chains.
Rise of state-supported industrial policies in Europe (FSR) and US (tariffs).
Growing integration of crypto into mainstream finance under a friendlier US regulatory regime.
Recommendations
Overweight: European and US defense primes, cybersecurity, regulated crypto infrastructure.
Underweight: Asian export-heavy sectors highly exposed to US tariff risk, particularly Japan.
Selective Long: European industrial reshoring beneficiaries, US pension risk transfer facilitators.
Monitor: Copper and critical mineral supply chains for inflation pass-through and supply constraints.
Why do you always miss the most stable trading opportunities?The market is always moving forward in the game between long and short positions. Sometimes the market is strong and sometimes it is falling rapidly. We cannot control the market trend. The only thing we can do is to protect the principal and stay rational. When the market is unclear, it is better to decisively exit and wait and see than to blindly waste energy. Whether the market rises or falls is not the most important thing. What you really need to think about is how you will deal with it, how much profit you can get when you are right, and how much loss you can avoid when you are wrong. This is the fundamental of trading.Trading method: follow the trend, macro resonance, refuse to bet everything, and implement iron discipline. Welcome like-minded friends to exchange technology, methods and trading experience, write analysis honestly, and trade seriously. I just hope you can take fewer detours!
Review of this week's upward trend analysis: This week, we did very well in gold. From Monday to Friday, the daily analysis layout and entry position were very accurate, the trend was correct, and it was simple and easy to do. Gold showed an overall volatile upward trend, which was in line with my previous prediction: First, the decline of the US dollar supported the gold price. The weakening of the US dollar increased the purchasing power of non-US currency holders, pushed up the demand for gold, and precious metals strengthened across the board. Second, the rise in risk aversion was affected by uncertainties such as the US fiscal deficit, tariff policy, and the independence of the Federal Reserve. The market's risk aversion demand increased, and bullish sentiment continued to be released.
As for the gold trend next week, the gold price bottomed out and rebounded this week, with obvious characteristics of washing and consolidation. The trend structure further converged and waited for the direction to be chosen. The weekly line closed with a long lower shadow and a small negative line. The daily line alternated between positive and negative, running between the middle and upper rails of the Bollinger Bands, continuing the slow bull shock pattern. Next week, focus on the break of the 3377-3309 range. If it does not break, maintain the high-altitude and low-multiple ideas. If it breaks, follow the unilateral trend. The short-term pressure is concentrated in the 3360-3370 area. It rose to this position on Friday and then fell back, showing obvious pressure. The lower support focuses on the 3330 line. It has not broken through many downward explorations, which has key support significance and needs special attention. If 3330 is lost, the bears may take the initiative. If it holds on and does not break, the bulls still have the upward momentum. Breaking through 3375 will open up the trend of rising space. In terms of operation rhythm, the short-term support focuses on 3345-3335. The key pressure above pays attention to the vicinity of 3380. Under the premise of no news stimulation, the market will most likely maintain a shock range this month.
Heading into Fibonacci confluence?XAU/USD is rising towards the resistance level, which is a pullback resistance aligning with the 127.2% Fibonacci extension, the 71% Fibonacci retracement, and the 100% Fibonacci projection. A reversal from this level could lead to our take profit
Entry: 3,392.02
Why we like it:
There is a pullback resistance that lines up with the 127.2% Fibonacci extension, the 71% Fibonacci retracement and the 100% Fibonacci projection.
Stop loss: 3,451.74
Why we like it:
There is a pullback resistance.
Take profit: 3,338.86
Why we like it:
There is a pullback support.
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XAUUSD – Bearish Continuation ExpectedGold (XAUUSD) appears to be forming a bearish reversal structure following multiple key rejections at the $3,375 resistance zone. After a strong bullish channel (highlighted in yellow) leading into the mid-July highs, the market showed signs of exhaustion.
🔍 Key Technical Highlights:
Bearish Reversal Pattern: After testing the upper resistance zone near $3,375–$3,385, price action formed a rising wedge, followed by breakdowns into symmetrical triangle and descending wedge patterns — all pointing to a weakening bullish momentum.
Ichimoku Cloud: Price is hovering around the cloud with Kijun-Sen resistance at $3,346, signaling consolidation and potential bearish continuation.
Double Top Zone: The highlighted red zone has been tested multiple times and acted as a strong supply area.
Support Zone: The green support zone near $3,310–$3,315 held multiple times in the past, but each bounce is weaker, suggesting a likely break below on the next test.
Projected Move: As price failed to break and sustain above the $3,355–$3,360 level, and broke below the ascending structure, a move toward $3,320 or lower is likely, especially if price breaks below $3,340 with strong volume.
🧠 Trading Insight:
Sellers are likely to take control below the current Ichimoku cloud, with a short bias valid as long as price remains below $3,360. Confirmation would come on a decisive break below $3,340.
THE KOG REPORT - UpdateEnd of day update from us here at KOG:
I can't say that was a bad day or week. We got the move from 3310 into our Excalibur target level 3332 and then started looking for a potential reversal. Gold, again, had other plans and just continued to activate Excalibur after Excalibur higher combined with the red box break and close, so all we could do as mentioned in the earlier post, is call it a week early.
For now, we have support at the 3350-45 level with resistance here at 3370. I don't think they will want to leave a wick on that 4H, so let's expect a potential retest of resistance.
The week in Camelot:
RED BOX TARGETS:
Break above 3350 for 3355✅, 3360✅, 3362✅, 3365✅, 3374, 3388 and 3396 in extension of the move
Break below 3335 for 3331✅, 3324✅, 3321✅, 3310✅, 3306✅ and 3293✅ in extension of the move
Wising you all a great weekend,
As always, trade safe.
KOG