Gold Futures (Aug 2024)Gold Futures (Aug 2024)Gold Futures (Aug 2024)

Gold Futures (Aug 2024)

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GC1! Needs to test 4000 and maybe sweep below to see if big buyers can hold. If not 3900 to 3700

GC1! GOLD (XAU/USD) – SELL SIGNAL

Symbol: Gold Futures (COMEX)
Timeframe: 30 Minutes

🔹 Trade Direction: SELL
🔹 Entry Point: 4,157.78
🔹 Take Profit (EA Target Point): 4,056.89
🔹 Stop Loss: 4,176.60

💹 Analysis Summary:

Price is moving within a short-term bearish correction phase.
After a small pullback to the 4,157–4,160 area, a downward continuation is expected.
The target area aligns with previous support near 4,056, offering a potential -2.36% move.

⚙️ Technical Setup:

Trend: Bearish (Downtrend)

Risk/Reward Ratio: 1 : 3 (favorable)

Expected Move: ≈ -98 points (-2.36%)

🧭 Strategy:

Wait for the price to test 4,157–4,160 for short entry.

Take Profit: 4,056

Stop Loss: 4,176

Look for confirmation (e.g., rejection candle or lower high) before entering. GC7X2025 GI6X2025 AJ7X2025 DE6X2025
Snapshot

MGCZ2025
🟢 Trade Bias: Long
🎯 Entry: 4120
❌ Stop Loss: 4090
✅ Take Profit 1: 4155
✅ Take Profit 2: 4185 MGC1! GC1!

GC1! 4150 rejected 3 times. could be ready for next leg down. lets see how support acts again at 4060