Gold remains in a strong short term bullish trend after breaking above the previous resistance around 4195-4200 and rallying toward the 4303 resistance. However the latest H4 candle shows rejection near this supply zone suggesting buyers may pause before attempting another push higher. As long as price holds above the 4195-4165 support area the overall structure remains bullish with potential upside toward 4412 and 4479. A deeper pullback into support could provide a healthier continuation of the uptrend.
Tomorrow NFP news is likely to drive gold next major move. A weaker than expected NFP could push gold above 4303 toward 4412-4479 while a stronger report may trigger a pullback to 4211-4165 or 4128. We should wait for H1-H4 confirmation after the news before entering new positions.
Trade Plan - Sell Setup
Sell Zone: 4280-4305
Sell Trigger: H1-H4 bearish rejection or bearish engulfing from the resistance zone
Targets: 4250, 4211, 4195, 4165, 4128
Invalidation: H4 close above 4305. A sustained breakout above this level would strengthen the bullish trend and could open the door toward 4412-4479.
Trade Plan - Buy Setup
Buy Zone: 4195-4165
Targets: 4211, 4250, 4303, 4412, 4479
Invalidation: H4 close below 4128. A sustained break below this level would weaken the current bullish structure and could expose 4050-4020.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Tomorrow NFP news is likely to drive gold next major move. A weaker than expected NFP could push gold above 4303 toward 4412-4479 while a stronger report may trigger a pullback to 4211-4165 or 4128. We should wait for H1-H4 confirmation after the news before entering new positions.
Trade Plan - Sell Setup
Sell Zone: 4280-4305
Sell Trigger: H1-H4 bearish rejection or bearish engulfing from the resistance zone
Targets: 4250, 4211, 4195, 4165, 4128
Invalidation: H4 close above 4305. A sustained breakout above this level would strengthen the bullish trend and could open the door toward 4412-4479.
Trade Plan - Buy Setup
Buy Zone: 4195-4165
Targets: 4211, 4250, 4303, 4412, 4479
Invalidation: H4 close below 4128. A sustained break below this level would weaken the current bullish structure and could expose 4050-4020.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade active
Gold remains strongly bullish after breaking and holding above 4303 with price now around 4314 and the rising trendline supporting the move. The buy setup remains active with 4248-4200 acting as the main pullback/support area. If buyers maintain control above 4303 the next major upside levels are 4412 and 4479.
With NFP today volatility could increase sharply, a weaker jobs report may support another upside push while a strong result could trigger a temporary pullback toward 4248-4200
Key Levels to Watch
Resistance: 4303–4320, 4412, 4479
Support: 4248, 4195, 4162, 4128
Trendline Support: 4100-4050
Trade closed: target reached
Target achieved successfully$205=2050 Pips Booked ($4250-$4455 Target)
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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.
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.