Market Outlook
* Trend: Price is currently consolidating within a Symmetrical Triangle pattern following a strong bearish move, indicating that the market is awaiting a breakout signal to determine the next directional trend.
* Near-Term Resistance: 4,350 – 4,369 (horizontal resistance combined with a descending trendline). This is a key decision zone; a confirmed H4 candle close above it could open the door for further upside momentum.
* Major Resistance: 4,421. This is the next bullish target if price successfully breaks out of the triangle pattern.
* Near-Term Support: 4,224 – 4,240. An important demand zone that has repeatedly supported price rebounds.
* Intermediate Support: 4,285. A key level that needs to hold in order to maintain the current consolidation structure.
* Primary Scenario: Price is likely to continue ranging within the triangle before a clear breakout occurs. A break above 4,369 could drive the market toward 4,421, while a break below 4,224 may trigger stronger selling pressure.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 4,287 – 4,285
* Stop Loss: 4,275
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,363 – 4,365
* Stop Loss: 4,375
* 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 target to protect capital.
* Trend: Price is currently consolidating within a Symmetrical Triangle pattern following a strong bearish move, indicating that the market is awaiting a breakout signal to determine the next directional trend.
* Near-Term Resistance: 4,350 – 4,369 (horizontal resistance combined with a descending trendline). This is a key decision zone; a confirmed H4 candle close above it could open the door for further upside momentum.
* Major Resistance: 4,421. This is the next bullish target if price successfully breaks out of the triangle pattern.
* Near-Term Support: 4,224 – 4,240. An important demand zone that has repeatedly supported price rebounds.
* Intermediate Support: 4,285. A key level that needs to hold in order to maintain the current consolidation structure.
* Primary Scenario: Price is likely to continue ranging within the triangle before a clear breakout occurs. A break above 4,369 could drive the market toward 4,421, while a break below 4,224 may trigger stronger selling pressure.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 4,287 – 4,285
* Stop Loss: 4,275
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,363 – 4,365
* Stop Loss: 4,375
* 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 target to protect capital.
Trade active
Hit plan SELL +330pips
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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.