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Gold Pullback: Technical Correction Keeps the Main Trend IntactHello everyone, Gold is currently trading around 4,112 USD on the H4 chart after a fairly deep correction. Many traders seem concerned seeing strong selling pressure, but a closer look at price action reveals this is merely a technical pullback, not a signal of a long-term trend reversal. After the parabolic surge, gold paused due to profit-taking. The dense Fair Value Gaps (FVG) in the 4,050–4,130 USD area indicate plenty of “unfinished business” — liquidity has not been fully tested, stop-losses not swept, supply and demand not fully balanced. The 4,050 USD zone is key support, both technically and psychologically for buyers. Holding above this level preserves the H4 uptrend structure. Meanwhile, the 4,130 USD zone presents a short-term resistance — FVG combined with the Ichimoku cloud — and gold must decisively handle this region to continue higher. From the news perspective, the market is caught between two forces: anticipation of Fed rate decisions and the upcoming US CPI, which could trigger volatility; versus easing US–China tensions, temporarily reducing safe-haven demand. The recent selling was mostly profit-taking after a 5.5% rally earlier this month; buyers haven’t exited, they are merely reorganising positions before returning. My preferred scenario: gold retests 4,050–4,070 USD, sweeps remaining liquidity, and then bounces to test 4,130 USD. Only if 4,050 USD breaks with high volume would the market likely head toward 4,000 USD, where buyers will defend aggressively. If it holds, a recovery is expected and gold could target higher levels. Do you see this as a normal pullback or a precursor to a sharp drop? Share your thoughts below.
OANDA:XAUUSDLong
by EmmaChartist
30
GOLD PLAN TODAY | BEARISH TREND AROUND 4093| XAUUSD OCT 23.2025 ☄️ Gold Market Outlook 10/ 23 (Based on SMC) ☄️ 📊 Market Context 🔤Gold is currently trading around 4093, showing a temporary recovery after a deep selloff from the 4360–4370 region. 🔤The market structure clearly displays a dominant bearish order flow, with consistent Breaks of Structure (BOS) to the downside and multiple Fair Value Gaps (FVG) left unfilled above current price. 🔤While short-term retracements are possible, overall price remains within a premium zone for selling. 💡Trading plan 🔽Scenario 1: Continuation SELL from 4160–4180 🔤Reason: Retest of bearish FVG + previous BOS zone. 🔤Entry Condition: Price retraces into FVG and forms bearish CHoCH on M15–M30. 🔤Bias: Aligns with overall bearish order flow. 🔼Scenario 2: Short-term BUY from 4000–4020 🔤Reason: Price has swept liquidity below prior lows and created a bullish CHoCH near the discount zone. 🔤Entry Condition: Look for bullish BOS after CHoCH + small FVG confirmation. 🔤Bias: Counter-trend, best suited for intraday recovery plays. 🔽Scenario 3: Rejection SELL from 4200–4220 🔤Reason: Strong premium zone aligning with multiple FVGs and liquidity pools. 🔤Entry Condition: Sweep of previous highs (above 4180) followed by bearish CHoCH. 🔤Bias: Ideal swing setup if retracement extends deeper.
OANDA:XAUUSD
by Michael_Gold_Insider
The trend line is not broken and the medium to long term is bull Good morning, bros. Gold has fallen from its high of 4380, dropping nearly $380. This significant drop is relatively rare in the past six months. However, judging from the 4H cycle trend, the current gold price is still above the rising trend line. The 4000 mark is a defensive point for bulls. The decline will only continue after successfully breaking through 4000. Yesterday, the lowest point only retreated to around 4015-4005 before it began to rebound. Although it did not provide us with an ideal entry opportunity, it also confirmed the determination of the buyers below to hold on to the 4000 mark. Therefore, until a clear break below the trend line is achieved, our bullish outlook remains unchanged. The gold price rebounded to around 4135 during the day and then fell back. As I told you yesterday, this position is a relatively dense trading area. I believe the current decline is the market accumulating strength to hit yesterday's rebound high, and it also provides us with a good opportunity to enter the long market. Pay attention to 4110-4100 below. If it retreats to this range, you can try to go long on gold in batches. The first target can continue to look at 4135-4145. OANDA:XAUUSD
OANDA:XAUUSDLong
by Perfect_Allen
GOLD PAUSES DECLINE; REBOUND IN PLAY TP: 4398 - 4485 - 4630GOLD Macro Outlook Gold prices rose to around $4,120 per ounce on Thursday, halting a two-day decline as investors weighed trade developments and geopolitical tensions that lifted the metal’s safe-haven appeal. Reports indicated that the US is considering export restrictions on China involving American-made software, though President Donald Trump later confirmed plans to meet with Chinese President Xi Jinping. Gold is setting up for a potential bullish continuation as falling bond yields and anticipated Federal Reserve rate cuts continue to weaken the U.S. dollar and boost demand for safe-haven assets. The 10-year Treasury yield remains below 4%, and yields across the curve have softened. This reinforces expectations that the Fed will announce rate cuts during its upcoming FOMC meetings on October 29 and December 10. Looking into 2026, the trend of global monetary easing is likely to persist. Economies in Asia and Northern Europe are showing signs of structural weakness due to aging demographics and declining household formation, leading to prolonged low growth and further pressure on global interest rates. Gold Technical Structure On the technical front, Gold is currently trading near $4,137, after correcting from the recent high of $4,398. The chart shows price consolidating along the lower Gann support, with a potential reversal setup forming. Immediate Support: $4,023–$4,100 Immediate Resistance: $4,175 and $4,225–$4,255 (key breakout zone) Breakout Targets: $4,318 → $4,398 → $4,485 → $4,631 Stop-Loss: Below $4,025 (closing basis) A daily close above $4,255 would confirm bullish continuation, opening the path toward $4,400–$4,630 levels in the medium term. A breakdown below $4,050 would invalidate the setup and shift bias back to neutral. Summary Bias: Bullish (above $4,225) Entry Zone: $4,060–$4,150 Confirmation: Close above $4,255 Stop-Loss: $4,025 (closing basis) Targets: $4,318 → $4,398 → $4,485 → $4,631 Macro Catalyst: Fed easing cycle, weaker USD, global rate decline Gold remains well-positioned for a renewed upside phase driven by macro tailwinds and technical recovery from support zones. Sustained trade above $4,225–$4,255 could confirm a breakout, aligning both macro fundamentals and technical signals in favor of the bulls.
TVC:GOLDLong
by tradeflowadvisors
Hellena | GOLD (4H): LONG to 61.8% Fibo of 4265.Dear colleagues, in the new forecast the idea remains the same - the upward momentum (12345) is not yet complete. At the moment I see the end of the formation of the corrective wave “4” at the level of 4000, as stated earlier, and the beginning of the upward movement in wave “5”. I do not want to set distant targets, because their achievement may take time, so let's start small - the nearest target is the resistance area at 4265 - the area beyond the 61.8% level of wave “4”. I think that this is the nearest target that we should expect. Fundamental context Earlier this week, gold experienced a sharp pull-back after its recent record highs. Nothing to panic about — it’s simply a technical correction: investors are taking profits after a rapid and extended rally. Key drivers like central bank buying and lower rate expectations remain intact, so the broader bullish story is still alive. In fact, this brief dip may offer a better entry point before the next leg up. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
FX:XAUUSDLong
by Hellena_Trade
7
Gold Price in Free Fall👋Hello everyone, let’s take a look at OANDA:XAUUSD and see what’s happening! At the time of writing, the precious metal continues to move within a downward wave. At one point, gold dropped close to the $4,000 mark, down more than $350 compared to the same time in the previous session — a decline of nearly 5%. This marks the sharpest drop after nine consecutive weeks of gains. The main reasons behind this move are the strengthening U.S. dollar, profit-taking pressure, and diminishing caution as U.S.–China trade tensions show signs of easing. In addition, optimism over the potential reopening of the U.S. government, reduced political uncertainty, and improving trade sentiment have lessened investors’ urgent demand for safe-haven assets like gold. From a technical perspective: Gold had previously fallen after forming a double-top pattern, breaking through several key support levels. It is now reacting around $4,100, gaining temporary momentum from the $4,000 support zone. In the short term, I expect a minor rebound before the downtrend may resume, but from a medium to long-term view, I remain optimistic, supported by expectations that the Fed will soon ease monetary policy, Trump’s tariff measures, and continued gold buying by central banks. What about you — how do you see gold’s next move today? 💬Share your thoughts in the comments below. Good luck and happy trading!
OANDA:XAUUSD
by Kevinn_Nguyen
39
GOLD cooling down, correction or signal of new cycle?Summary “After three consecutive sessions of declines, gold is experiencing a short-term correction after a rally that has lasted more than two months. Despite falling nearly 6% from its recent peak, the medium-term uptrend remains solid as prices remain above the psychological level of $4,000 per ounce. This move reflects a technical cooling of an overbought market, rather than a fundamental reversal. With the Fed expected to cut interest rates before the end of the year, geopolitical tensions lingering and the trend of “de-dollarization” spreading, gold continues to play a central role in the global safe-haven portfolio. Investors are now closely watching the price reaction around the $4,000 region, the balance point between short-term profit-taking pressure and medium-term accumulation momentum, while the technical outlook still favors a recovery trend if this support level holds.” OANDA:XAUUSD corrects after 3-day decline, medium-term uptrend remains strong Gold has fallen for three consecutive days, marking a technical correction after a long rally. Spot gold was hovering around $4,080/ounce on Tuesday morning, nearly 6% below its recent peak, reflecting a necessary pullback in an overbought market. The decline comes amid global markets being cautious about the latest developments in US-China trade talks and unclear signals on the Federal Reserve’s interest rate path. Despite short-term pressure, gold remains a central part of the safe-haven portfolio, especially as geopolitical risks increase and major currencies face “soft devaluation” pressure. Comment: “After a period of excessive growth, gold is correcting like an overstretched spring. The fact that the price is still holding above the $4,000 mark shows that this is a technical cooling process, not a fundamental reversal. The need for safe haven and defensive trades in the Dollar still exists.” Gold has risen more than 55% year-to-date since mid-August, boosted by expectations of at least a 25 basis point cut by the Fed before the end of the year, along with a trend to hedge against inflation and widening budget deficits. The stability of the US dollar and ETF inflows supported gold prices, while silver and platinum recorded consecutive losses due to profit-taking pressure. Traders are also focusing on new political-trade signals. US President Trump expressed optimism about a “good deal” at the upcoming meeting with Asian leaders, but admitted that a delay scenario is still possible. This situation has made the market sentiment “cautious but realistically optimistic,”. The current decline reflects a technical correction, not a trend reversal. With the Fed likely to cut interest rates, persistent geopolitical tensions and the “de-dollarization” trend of some economies, gold remains a pillar in the global safe-haven structure. Investors should monitor the price reaction around the $4,000 mark, the balance point between short-term profit-taking and medium-term accumulation. Technical outlook analysis of OANDA:XAUUSD Gold Technical Outlook: Bulls Keep the Initiated Around $4,000 Gold prices are experiencing a short-term but strong correction, after a long rally since mid-August. On the daily chart, the decline has brought the price to test the important support cluster around $4,000–$4,050/oz, corresponding to the Fibonacci 0.618 zone and the MA50 average, which acts as a key “psychological milestone” for the bulls. The RSI has retreated to near the neutral level of 50, reflecting a temporary cooling rather than a trend reversal. The major trend structure remains clearly bullish, as evidenced by the intact upward price channel. If the $4,000 zone is maintained, gold is likely to enter an accumulation-recovery phase, with the nearest resistance zones at $4,160–$4,180 (Fibo 0.5) and $4,210–$4,275 (Fibo 0.382–0.236). Conversely, a loss of the $4,000 mark would trigger deeper profit-taking towards the extended support zone of $3,950. The current correction suggests the market is consolidating its medium-term uptrend, with no signs of breaking the trend. Once sentiment stabilizes around the $4,000 threshold, new buying pressure is likely to return, especially if there are supportive signals from US economic data or expectations of a Fed rate cut. SELL XAUUSD PRICE 4231 - 4229⚡️ ↠↠ Stop Loss 4235 →Take Profit 1 4223 ↨ →Take Profit 2 4217 BUY XAUUSD PRICE 4001 - 4003⚡️ ↠↠ Stop Loss 3997 →Take Profit 1 4009 ↨ →Take Profit 2 4015
OANDA:XAUUSD
by Xayah_trading
1
The Ultimate GOLD || Intraday Trading Plan (10/23/2025)Welcome to Trade with Decrypters! DETAILED AND COMPLETE ANALYSIS ( 5 TRADE SETUPS ) Central Bank Buying Central banks added net 19t in August led by Kazakhstan (14t), Bulgaria and El Salvador, Q3 on pace for 1,000t+ annually up 41% from historical norms. BRICS drivers like China (300t+ YTD) and India's $100B reserves fuel de-dollarization and inflation hedges; Poland reaffirms targets amid risks. Silver links to EV/solar boom (+70% China demand). Outlook: Unfazed 1,000t buys lift prices into 2026. ETF Inflows & Sentiment Gold ETFs hit $472B AUM in Q3 (+23% q/q) with $64B YTD inflows, September $17B record led by North America/Europe; Asia minor outflows. Safe-haven rush amid trade wars, minor profit-taking post $4k peak. RSI 75 overbought, $3,900 support holds. Silver +$2B YTD on industry bets. Forecast: Gold $4,200 test, silver $50+. Macro & Geopolitical Events Fed Oct cut vs. 2.9% inflation/shutdown-delayed jobs—labor firmer but risks grow. Trump's China tariffs fuel wars; BRICS stalls de-dollarization but boosts gold; Ukraine/Mideast hikes energy/inflation. Drives 50%+ YTD metals gains; tariffs add 1–2% CPI. Silver Deficit Fifth straight deficit at 118M oz in 2025 (down 21% YoY), demand stable 1.20B oz vs supply +3% to 1.05B oz, industrial record 680M+ oz from solar/EVs. Renewables offset jewelry drops Futures & Options Flow CME gold OI ~528k contracts, steady amid volumes; CVOL moderate, call/put skew bullish for rate-cut squeezes Fundamentals & Forecast Gold +51% to $4,062, silver +43% to $48—via 1,000t+ CB buys, inflation, cuts, 7% GDP deficits. De-dollarization/geo-risks dominate. Projection: Gold $4,400 Q4, silver $57 mid-2026
FOREXCOM:XAUUSDLong
by DECRYPTERS
Stop!Loss|Market View: GBPUSD🙌 Stop!Loss team welcomes you❗️ In this post, we're going to talk about the near-term outlook for the GBPUSD currency pair☝️ Potential trade setup: 🔔Entry level: 1.33425 💰TP: 1.32176 ⛔️SL: 1.34167 "Market View" - a brief analysis of trading instruments, covering the most important aspects of the FOREX market. 👇 In the comments 👇 you can type the trading instrument you'd like to analyze, and we'll talk about it in our next posts. 💬 Description: For the pound, sell priorities are still in place. A retest of the 1.32870 support area is expected here in the near future. Sell trade is looked for from current prices (as the primary scenario), but manipulation (a false breakout) should be expected in the event of a further retest of the 1.34500 resistance area, after which a sell should be looked for again at more favorable prices. The 1.30000 level is considered a medium-term target. Thanks for your support 🚀 Profits for all ✅ ❗️ Updates on this idea can be found below 👇
Short
by StopLoss222
EUR/USD on the 30-minute timeframe....EUR/USD on the 30-minute timeframe, and my marked two “Target Points” on it. Let’s interpret what’s shown: Current price: around 1.1598–1.1600. I have a downtrend line that price looks like it’s testing from below. A small support box (around 1.1590 area) shows a possible reversal zone. Two target levels are marked with blue arrows and labeled “Target Point.” Based on what’s visible: First target (near-term): Around 1.1650–1.1655 Second target (extended): Around 1.1700–1.1710 ✅ Targets summary: 🎯 TP1: 1.1650 🎯 TP2: 1.1700 These levels correspond to my drawn projection arrows and are logical resistance zones (top of the Ichimoku cloud and prior structure highs). If you want a tactical plan: Entry zone: Around 1.1600 (confirmation of bullish break from the descending channel). Stop-loss: Below 1.1580 (below recent low and support box). Take-profit: TP1 → 1.1650 TP2 → 1.1700
Long
by RSI_Trading_point
13
EUR/GBP on the 4-hour chart Pattern..EUR/GBP on the 4-hour chart the Ichimoku cloud and a trendline setup. From my chart, here’s what I can read and infer: The ascending trendline is acting as support, connecting higher lows from mid-September onward. Price is consolidating near 0.8690, just above that trendline. The target point drawn on my chart is around 0.8716 – 0.8720, based on the breakout projection. My marked a measured move from the triangle’s height projected upward — suggesting a potential bullish breakout. ✅ So my target point is approximately 0.8716 – 0.8720. If my trading this setup: Entry: Around 0.8690–0.8695 (confirmation of breakout above Ichimoku cloud or the small resistance). Stop-loss: Below the trendline, near 0.8670–0.8660. Take-profit: 0.8716–0.8720 (my chart’s target).
by RSI_Trading_point
5
Gold (XAU/USD) – Technical Outlook for TodayGold continues its short-term recovery after last week’s sharp selloff from the 4,400 zone. On the 1H timeframe, price has shown early signs of stabilization above the 4,070–4,080 support area, where strong buy-side reaction appeared. The market is now attempting a corrective move toward the 4,150–4,160 resistance zone, a key structure level that previously acted as support before the breakdown. A successful retest of this area could determine the next directional bias: Bullish scenario: If buyers can reclaim and hold above 4,160, we may see further upside extension toward 4,300–4,350, aligning with the 0.5–0.618 Fibonacci retracement of the previous down-leg. Bearish scenario: Failure to break 4,160 may attract renewed selling pressure, possibly leading to another retest of 4,050 or even 4,000. Technical confluence: EMA20 turning upward, signaling short-term momentum recovery. RSI recovering from oversold territory, supporting a potential retracement. Key resistance zone: 4,150–4,160 Key support zone: 4,070–4,000 In summary, gold is currently in a pullback phase within a broader correction. Traders may look for short-term buy opportunities toward resistance but should watch price behavior closely around 4,160 before deciding the next move. Follow for more high-probability setups and daily strategy updates.
OANDA:XAUUSD
by Henrybillion
Gold finally has a supply range! Time for bullish correction?I talked about everything but the obvious inverse head and shoulders/Quasimodo forming the right shoulder now. If everything goes right can we expect an arm to extend upwards here during the stochastic buy cycle? Let me know what you think and be sure to share and care for others if you found this helpful. Also talked about the "REAPER WARNING" as we have a reaper inversion range actively terrorizing price 🧩
PEPPERSTONE:XAUUSD
by HollywooodTrades
2
Gold buyers showing signs of activityHi traders and investors! This analysis is based on the Initiative Analysis (IA) concept. Daily Timeframe We can see that volume is starting to appear from the buyer zone located at the base of the last buyer initiative. Yesterday’s seller activity didn’t bring any visible result — the candle closed inside the previous one. Still, this leaves hope that there is a buyer active in this area, and we may soon see a move from their side. 1-hour timeframe On the 1-hour timeframe, a sideways range has formed. The buyer initiative currently has a target at 4127 — let’s watch how this movement develops. Inside this initiative, we now have a key seller bar - IC on the chart, which was absorbed by the buyer. There has already been a first attempt of a rebound from this buyer zone, and it’s currently unfolding. We’ll see how it plays out. If the first attempt fails, we can look for local long opportunities from the support level around 4065 or 4004. Wishing you profitable trades!
OANDA:XAUUSD
by AlexeyWolf
XAUUSD: Market Analysis and Strategy for October 22Gold Technical Analysis Daily Resistance: 4380, Support: 3900 4-Hour Resistance: 4180, Support: 4000 1-Hour Resistance: 4160, Support: 4000 Technically, gold fell by $380, temporarily halting its decline near 4000. Technical indicators are recovering, and the market is taking a brief breather. Bull markets are prone to large swings, so it's unclear whether gold has truly reversed in the short term. Gold has tested the 4000 support level twice. Watch for the continuation of the short-term downtrend. The moving average price has broken through the upward trend line in the short term, and the indicators are in a state of recovery, but the Bollinger Bands remain upward. The 4170/4180 levels on the daily chart are key. If they are successfully recaptured, the market is poised for a strong bullish resurgence. Otherwise, the market will continue to fluctuate downwards in the short term, looking for support. Focus on the 4000 level. If it breaks below, it will continue to move towards 3900. Looking at the 1-hour chart, the candlestick pattern has broken below the neckline of the M-shaped top. Market bearish sentiment is being released, and indicators continue to move downward rapidly. The short-term bull-bear dividing line is between 4188 and 4208. Short-term rebound momentum is limited, and the NY market remains bearish. Trading Strategy: BUY: 4000-4005near SELL: 4160near SELL: 4178near More Shares →
TVC:GOLDShort
by ActuaryJ
Why Did Gold Plunge Yesterday – Key Factors ExplainedHello everyone, the gold market just experienced a dramatic session, with the front-month futures contract falling over 5.39% in a single day, marking the deepest drop since June 2013. This sharp correction follows an extended period of rapid gains, forcing many traders to reassess the short-term trend. Main reasons behind the sharp drop Correction after strong growth: Gold has surged over 128% from its 2011 baseline, but the lack of intermittent pullbacks created expectations for a significant retracement. When the correction occurred, it happened quickly and steeply, just as many veteran traders anticipated. Divergence with silver: Although silver fell 7.2%, its decline was “modest” compared to gold. Gold’s parabolic rise contrasted with silver’s steadier gains, reinforcing the likelihood that gold would continue adjusting while silver maintained a sustainable upward trajectory. Historical surge dynamics: From lows around 2,500 USD/oz, gold soared past 4,200 USD with hardly any meaningful consolidation. A long-term surge without pullbacks almost inevitably leads to sharp reversals, clearly illustrated by yesterday’s drop. With the Double Top pattern fully formed and the neckline broken, I expect gold could fall to the strong support zone around 4,000 USD or lower if the decline continues. Current resistance stands at 4,200 USD, a level difficult for gold to reclaim in the short term. The market is confirming a downtrend, so traders should monitor the support zones closely to identify optimal entry points. Do you think this is a buying opportunity at lower gold prices or just a temporary dip? Share your thoughts below!
OANDA:XAUUSDShort
by EmmaChartist
16
#Gold Long Bullish on all fronts with lots of volatility.OANDA:XAUUSD Fundamental — 🟢 Bullish (4/5 stacks): Hedge demand; easing bias supports. Technical — 🟢 Diamond Vault Bullish (7/7 stacks): > EMAs; RSI 58; MACD strong; ADX 55; +DI gap ~52%. Overall: 🟢 Diamond Vault Bullish (11 total stacks) Trade plan: Long → SL ≈ 149.416 | TP ≈ 388.482. Approx levels: SL 3945.904, TP 4483.8016. 20-word summary: Top momentum asset; trend breadth and strong ADX favor dip buys toward 4050 with upside continuation to new highs. Extremely volatile keep smaller positions and wider stops and take profit. Stay sharp, Stay nimble.
OANDA:XAUUSDLong
by OnlyAitrades
( Gold Protocol ) Bullish & Bearish Reversal Detected➕ Bearish Reversal " 4115 Zone ➕ Bullish Reversal : 3990 🩸 Volume Surge Confirmed — Institutional buyers active 🩸 Session Aligned — Timing matches liquidity expansion window 🩸 Cluster Shield Formed — Demand imbalance verified 🩸 Delta Shift Positive — Accumulation phase confirmed 🩸 POC Retest Completed — Weak shorts absorbed 🩸 Structure Break Pending — Bullish intention verified Logic: This is engineered reversal, not prediction. 💯 Objective: Controlled execution with minimal drawdown.
TVC:GOLD
by Path_Of_Hanzo
44
GOLD DAILY CHART ROUTE MAP UPDATEHey everyone, Check out our updated Daily Chart Route Map, now featuring updated levels for tracking Golds movement. We’ve refined our proprietary Goldturn Channel, our unique method for constructing ascending channels. Price action recently broke out above the channel, with a body close above 4325, leaving a long-term gap open near 4444. Currently, we’re observing rejection at 4325, and our channel top is now acting as support. The market is range-bound between 4325 (resistance) and 4183 (channel top as support). A decisive break above or below either of these levels will help define the next directional move, keeping in mind the open gap overhead at 4444. On the downside, 3961 remains the pivotal swing zone, aligning with the channel midline, should we see a confirmed break below 4183. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
9
Gold at a Critical Crossroad: Bounce or Breakdown Ahead?Hi! The gold price is currently trading around $4,042, sitting just above a critical support area near $3,953.80. This gray zone is a key decision point for the next major move. Trend Structure: The broader trend remains bullish, moving within a well-defined ascending channel. Double Top Formation: A short-term double top has formed near recent highs, triggering a corrective move down into the channel’s midline and the gray support area. Critical Support Zone ($3,953.80): This level aligns with previous structure support and the channel’s bottom, making it a high-probability reaction zone. ________________ Scenario 1: Bullish Reaction (Primary Scenario) If gold holds above the gray critical area and bounces within the ascending channel, we could see a renewed bullish wave. Confirmation: A strong bullish reaction or higher low around $3,953–$3,980. Target: The green target zone around $4,619.57, corresponding to the upper channel boundary and a potential measured move from the recent correction. Scenario 2: Bearish Breakdown If the gray area fails to hold, it could signal deeper downside momentum. Trigger: A clean break and 4H close below $3,953.80. Target: The pink support zone near $3,656.01, which aligns with prior accumulation and the lower channel boundary. ________________ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSD
by melikatrader94
16