CFDs on Gold (US$ / OZ) forum
As anticipated in our previous strategy, the gold price has initiated a correction from around the 3785 level. For next week's trading operations, it is recommended to continue establishing long positions when the price retraces to key support levels; if the subsequent rebound encounters resistance, then look for opportunities to enter short positions.
Based on long-term experience, the outlook for gold suggests bullish momentum remains strong, with buyers targeting $3,800 to $3,817, but the market may experience a pullback before continuing higher.
On the candlestick chart, gold is currently trading around $3,759, slightly above a key support trendline. Key support levels are located near $3,755, $3,735, and $3,723, where buyers could enter long positions.
‼️lower lows Gold can go 3700🚨 VIP LEVELS: GOLD TRAP ZONESETUP 🚨SELL Setup Entry: 3777 FVG + Order Block + 0.786 Fib)cancel trade
TP1: 3740
TP2: 3700 liquidity zone + Wave C target)
SL: 3775 and above OB and liquidity sweep zone)
OBS market in downtrend
✅ Actionable Insights & Confluence
SMC + Elliott Wave + Fibonacci: All point to a bearish continuation after retracement.
Dow Theory + Volume: Confirms trend but warns of short-term pullback.
Candlestick + RSI + MACD: Support retracement into premium zone before next leg down.
Psychological Checkpoint: Avoid chasing
Idea: Selling started now at 3759.5 …
Idea: Selling started now at 3759.5 …
Sell
3770 -3772 zone
tp 3752
sl 3780
Buy
3750-3752
Sl 3745/-
tp 3770 -3775
If we take a closer look at XAUUSD, the price action is showing some promising signs. After breaking out from its previous trend and consolidating, we’re seeing the potential for a powerful continuation of the uptrend. The market is looking strong, and it’s possible we’re just getting started with a new leg up.
My eyes are set on breaking above the 3,800 level, with the next target at 3,832. If this momentum holds, we could see even higher levels ahead!
What do you think? Is XAUUSD ready to keep climbing, or are we about to see a pullback? Drop your thoughts and targets below - let’s analyze this together!