StevenTrading – Gold Confirms Uptrend Across Multiple Timeframes

StevenTrading – Gold Confirms Uptrend Across Multiple Timeframes

Hello everyone, StevenTrading is back with the latest insights on the gold market.
While USD speculators continue to bet on the decline of the greenback – even challenging the Federal Reserve's hawkish stance – gold is seizing this period to strengthen its position.
Although Chairman Powell signals maintaining tight policies, most strategists still believe that the USD will remain weak in November, creating a favorable environment for the precious metal's uptrend.

📰 Fundamental Analysis – Cash Flow Perspective

Cash flow is shifting from USD-valued assets to safe-haven assets, with gold being the top choice.
Financial instability and divisions within the Fed keep inflation expectations high, reinforcing gold's medium-term uptrend.

📊 Technical Analysis – Structure Break & Trend Confirmation
On the technical chart, gold has broken the downtrend line on the H4 timeframe and surged past the strong resistance zone around 3990–4000, confirming an expanded uptrend across multiple timeframes.
Currently, the price is hesitating around the trendline – a sign that the market is attracting liquidity before continuing its rise.

The medium-term price target is aimed at the 418x zone, where the confluence between FVG and major resistance occurs.
However, the 4080 area is a crucial zone to closely watch for price reactions, especially if short-term distribution signals appear.

🎯 Trading Scenario (Action Plan)

🟢 BUY Scenario – Buy with the uptrend:
Logic: Price has confirmed a resistance break and re-tested the breakout zone, presenting an opportunity for trend-following buys.
Entry: Buy 4000
SL: 3990
TP: 4035 – 4050 – 4080 – OPEN

🔴 SELL Scenario – Only for short-term reactions (Scalping):
If the price reacts strongly at the 4080 zone, consider short selling with short-term targets in the liquidity zone – prioritize quick exits, do not hold positions overnight.

📌 Steven's Notes
The primary trend remains upward in the medium term, but monitor price reactions on smaller timeframes (M15–M30) to optimize entry points.