Following the previous analysis, there are no major changes on the weekly timeframe, and the same overall bias remains in play.
On the daily timeframe, both major and minor structures remain bearish, with downside continuation still intact.
On the 4H timeframe, as mentioned in the previous update, price managed to close below the key level. However, a fully confirmed minor bearish structure is not yet in place. A short-term bullish pullback is expected to form a proper minor structure, which should be monitored on lower timeframes.
On the 1H timeframe, the minor structure has shifted bullish. Price is currently reacting to a 4H supply zone, which could lead to continuation of the higher timeframe bearish move, targeting a break below 4501.
However, a deeper bullish correction is still possible. Based on the current 15M major bullish structure, this scenario is being tracked for now.
Considering the overall bearish flow and market cycle, bearish setups remain the preferred direction. Bullish moves are currently viewed as corrective and carry higher risk.
Key zones for potential bearish continuation and completion of the 4H pullback are marked. In case of a confirmed 15M structure shift, these areas can be used for short entries.
Do you see continuation or a deeper pullback?
Share your view below 👇
Follow for daily XAUUSD analysis
On the daily timeframe, both major and minor structures remain bearish, with downside continuation still intact.
On the 4H timeframe, as mentioned in the previous update, price managed to close below the key level. However, a fully confirmed minor bearish structure is not yet in place. A short-term bullish pullback is expected to form a proper minor structure, which should be monitored on lower timeframes.
On the 1H timeframe, the minor structure has shifted bullish. Price is currently reacting to a 4H supply zone, which could lead to continuation of the higher timeframe bearish move, targeting a break below 4501.
However, a deeper bullish correction is still possible. Based on the current 15M major bullish structure, this scenario is being tracked for now.
Considering the overall bearish flow and market cycle, bearish setups remain the preferred direction. Bullish moves are currently viewed as corrective and carry higher risk.
Key zones for potential bearish continuation and completion of the 4H pullback are marked. In case of a confirmed 15M structure shift, these areas can be used for short entries.
Do you see continuation or a deeper pullback?
Share your view below 👇
Follow for daily XAUUSD analysis
Trade closed: target reached
Gold Update — Yesterday’s Setup Played Out, But There’s a TwistFollowing yesterday’s analysis, we were expecting a bullish move as part of a 4H corrective phase — and price delivered that move perfectly.
However, after reacting to the 4586.30 level (which was not a particularly strong level), the market shifted into a minor bullish structure on the 4H timeframe. This shift caused the previously marked supply zones to fail, allowing price to break above the previous 4H high at 4660.58.
There’s also an important educational point here:
The daily minor low at 4510.23 was taken with a fake breakout, as we did not see a strong daily close below it. This made bearish continuation setups riskier and reduced the reliability of supply zones.
➡️ Full updated analysis for today is in the next post.
Did you expect this breakout or were you still bearish? 👇
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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.