Market Outlook
Based on the chart, price has broken below the descending trendline. However, the breakout lacks strong momentum, and price is currently consolidating just above a key support zone. This suggests that the market still requires further confirmation before establishing its next directional trend.
Trend
* Short-term: Neutral with a bearish bias.
* Price remains below the major resistance zone at 4,086 – 4,088, indicating that sellers still hold the upper hand.
* A confirmed H1/H4 candle close above this zone is required to validate a bullish trend reversal.
Resistance Levels
🔵 4,086 – 4,088 – Primary resistance, aligned with the descending trendline and a previous supply zone.
* If price successfully breaks above and retests this area, the next upside targets are 4,104 – 4,115.
Support Levels
🟢 4,020 – 4,024 – Immediate support, which will likely determine the short-term direction.
🟢 4,000 – 4,001 – A key psychological support level. A confirmed break below this area could trigger a move back toward the 3,97x region.
🟢 3,970 – 3,973 – The final major support level if selling pressure continues to increase.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 3,974 – 3,972
* Stop Loss: 3,962
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,086 – 4,088
* Stop Loss: 4,098
* Take Profit: 200 / 500 / 1000 pips
Risk Management
* Risk no more than 1–2% of your account equity per trade.
* Wait for a confirmed breakout or rejection before entering any position.
* Consider moving your Stop Loss to breakeven once the trade reaches a reasonable profit level to protect your capital and reduce risk.
Based on the chart, price has broken below the descending trendline. However, the breakout lacks strong momentum, and price is currently consolidating just above a key support zone. This suggests that the market still requires further confirmation before establishing its next directional trend.
Trend
* Short-term: Neutral with a bearish bias.
* Price remains below the major resistance zone at 4,086 – 4,088, indicating that sellers still hold the upper hand.
* A confirmed H1/H4 candle close above this zone is required to validate a bullish trend reversal.
Resistance Levels
🔵 4,086 – 4,088 – Primary resistance, aligned with the descending trendline and a previous supply zone.
* If price successfully breaks above and retests this area, the next upside targets are 4,104 – 4,115.
Support Levels
🟢 4,020 – 4,024 – Immediate support, which will likely determine the short-term direction.
🟢 4,000 – 4,001 – A key psychological support level. A confirmed break below this area could trigger a move back toward the 3,97x region.
🟢 3,970 – 3,973 – The final major support level if selling pressure continues to increase.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 3,974 – 3,972
* Stop Loss: 3,962
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,086 – 4,088
* Stop Loss: 4,098
* Take Profit: 200 / 500 / 1000 pips
Risk Management
* Risk no more than 1–2% of your account equity per trade.
* Wait for a confirmed breakout or rejection before entering any position.
* Consider moving your Stop Loss to breakeven once the trade reaches a reasonable profit level to protect your capital and reduce risk.
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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.
Related publications
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.