Market Outlook
Trend
* The medium-term trend remains bearish, with price continuing to trade below the descending trendline and still unable to establish a Higher High market structure.
* Price is currently consolidating within a symmetrical triangle, formed by the ascending and descending trendlines. A decisive breakout from this pattern will determine the next major directional move.
Resistance Levels
🔵 4,053 – 4,055 – Near-term resistance and the first key breakout level.
🔵 4,096 – 4,098 – Major resistance, aligned with the descending trendline and a key supply zone.
* An H4 candle close above 4,096 would invalidate the current bearish outlook and open the door for further upside.
* If price is rejected within the 4,053–4,096 resistance zone, selling pressure is likely to return.
Support Levels
🟢 4,006 – 4,008 – Immediate support and the lower boundary of the current consolidation range.
🟢 3,973 – 3,975 – Strong support and a key H4 demand zone.
* Holding above 4,008 keeps the short-term recovery scenario intact.
* An H4 candle close below 4,008 would increase the probability of a decline toward 3,975.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 3,975 – 3,973
* Stop Loss: 3,963
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,096 – 4,098
* Stop Loss: 4,108
* 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 signal before entering a position.
* Consider moving your Stop Loss to breakeven once the trade reaches a reasonable profit level to protect your capital and minimize risk.
Trend
* The medium-term trend remains bearish, with price continuing to trade below the descending trendline and still unable to establish a Higher High market structure.
* Price is currently consolidating within a symmetrical triangle, formed by the ascending and descending trendlines. A decisive breakout from this pattern will determine the next major directional move.
Resistance Levels
🔵 4,053 – 4,055 – Near-term resistance and the first key breakout level.
🔵 4,096 – 4,098 – Major resistance, aligned with the descending trendline and a key supply zone.
* An H4 candle close above 4,096 would invalidate the current bearish outlook and open the door for further upside.
* If price is rejected within the 4,053–4,096 resistance zone, selling pressure is likely to return.
Support Levels
🟢 4,006 – 4,008 – Immediate support and the lower boundary of the current consolidation range.
🟢 3,973 – 3,975 – Strong support and a key H4 demand zone.
* Holding above 4,008 keeps the short-term recovery scenario intact.
* An H4 candle close below 4,008 would increase the probability of a decline toward 3,975.
⸻
Trading Plan
🟢 BUY GOLD
* Entry: 3,975 – 3,973
* Stop Loss: 3,963
* Take Profit: 200 / 500 / 1000 pips
🔴 SELL GOLD
* Entry: 4,096 – 4,098
* Stop Loss: 4,108
* 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 signal before entering a position.
* Consider moving your Stop Loss to breakeven once the trade reaches a reasonable profit level to protect your capital and minimize risk.
Trade active
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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.