What Is the Outlook for Gold at the Start of the New Trading Wee

Jun 22

H1 Market Update

🔹 Trend:
Price remains within a medium-term bearish structure after a corrective rally was strongly rejected at the 0.618 Fibonacci retracement level and a dynamic resistance trendline. However, the ascending trendline below remains intact, suggesting that the market is still in a consolidation phase before choosing its next directional move.

🔹 Key Resistance Levels:

* 4,230 – 4,232: A confluence zone of the 0.618 Fibonacci retracement, horizontal resistance, and the descending trendline. This is a major selling area to watch closely.
* 4,320 – 4,325: Medium-term resistance and the key level that would confirm a bullish reversal if broken.

🔹 Key Support Levels:

* 4,168 – 4,170: Immediate support and the area where price is currently reacting.
* 4,080 – 4,082: Critical support aligned with the 1.618 Fibonacci extension and the long-term ascending trendline. A break below this zone could trigger a deeper decline.

🔹 Primary Scenario:
Price may rebound toward 4,230 – 4,232 before facing renewed selling pressure. If 4,168 is broken, the next downside target would be 4,082. Conversely, an H1 close above 4,232 would weaken the current bearish structure and open the door for a move toward 4,320.

⸻

Trading Plan

🟢 BUY GOLD

* Entry: 4,168 – 4,170
* Stop Loss: 4,158
* Take Profit: 200 / 500 / 1000 pips

🔴 SELL GOLD

* Entry: 4,230 – 4,232
* Stop Loss: 4,242
* Take Profit: 200 / 500 / 1000 pips

Risk Management

* Risk no more than 1–2% of account equity per trade.
* Wait for confirmation signals before entering a position.
* Consider moving the stop loss to breakeven once the trade reaches a reasonable profit level to protect capital.

Jun 23

Trade active

PLAN BUY : +300pips