After the explosive rally that pushed Gold up to the 3500 area, the market quickly reversed with a sharp sell-off on April 22–23, dropping almost 2500 pips.
Since then, price has entered a consolidation phase.
Initially, the range was between 3270 and 3370, but since yesterday, the range has started to tighten — a classic sign that a breakout is approaching.
Looking at the structure, we’re dealing with a blow-off top followed by a range with clear support and resistance levels. In this context, I lean toward a downside breakout.
The key support is now at 3300 — and a break below it would likely expose 3270 again.
However, I don’t expect the move to stop there. If 3300 is broken, a continuation toward the 3200 zone becomes very likely.
🔹 Trading Plan:
As long as price stays below the 3360–3370 resistance zone, the strategy is to sell rallies, especially when price approaches the upper boundary of the range. Entries can be taken on rejection candles or confirmation patterns near resistance, with stops just above 3370. If 3300 breaks, watch for continuation setups toward 3200.
Only a sustained breakout above 3370 with strong bullish momentum would invalidate the bearish scenario and call for a reassessment.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Since then, price has entered a consolidation phase.
Initially, the range was between 3270 and 3370, but since yesterday, the range has started to tighten — a classic sign that a breakout is approaching.
Looking at the structure, we’re dealing with a blow-off top followed by a range with clear support and resistance levels. In this context, I lean toward a downside breakout.
The key support is now at 3300 — and a break below it would likely expose 3270 again.
However, I don’t expect the move to stop there. If 3300 is broken, a continuation toward the 3200 zone becomes very likely.
🔹 Trading Plan:
As long as price stays below the 3360–3370 resistance zone, the strategy is to sell rallies, especially when price approaches the upper boundary of the range. Entries can be taken on rejection candles or confirmation patterns near resistance, with stops just above 3370. If 3300 breaks, watch for continuation setups toward 3200.
Only a sustained breakout above 3370 with strong bullish momentum would invalidate the bearish scenario and call for a reassessment.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
手動結束交易
Close it with minimal profit.Limbo continues
I'm waiting for a more clear picture
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。