Gold Rejection at 0.786 Fib – Continuation Sell Setup?

Mar 27

Hello Traders!
Gold has made a sharp impulsive move to the upside and is now approaching a key Fibonacci retracement level around the 0.786 zone. This area often acts as a premium zone where sellers look to step back in.

From a price action perspective, the market is still within a broader bearish structure, and this pullback into resistance can provide a potential continuation opportunity.

If price shows rejection from this level, we can expect a move back toward the downside targets marked on the chart. However, if price breaks and sustains above this zone, the setup becomes invalid.

The idea here is simple, wait for confirmation at resistance and then follow the reaction.

Rahul’s Tip: The best continuation trades often come after deep pullbacks into premium zones, not from chasing the move.

Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always manage your risk properly before taking any trade.

— TraderRahulPal
SCA Registered Financial Influencer (Dubai, UAE)

Mar 28

Trade active

it worked perfectly as expected, it given 63 points and still in downtrend, i guess by monday we wil achieve the target.

Mar 30

Trade closed: target reached

Fantastic move.. Targets done