GOLD PLAN 02/07–RECOVERY SIGNAL AFTER LATE US SESSION CORRECTION

GOLD PLAN 02/07 – RECOVERY SIGNAL AFTER LATE US SESSION CORRECTION

📰 KEY MACRO NEWS:

Today, markets await the US ADP employment report – a leading indicator ahead of this week’s Nonfarm Payrolls.
President Trump delivered a noteworthy speech, raising concerns over the new tax reform bill, which could fuel fears of a growing US budget deficit.

These factors are providing short-term support for gold’s bullish momentum.

📉 TECHNICAL ANALYSIS:

Gold rallied sharply yesterday, reaching 3358 before closing the day at 3338 – roughly the current market price.
The strong bullish move indicates a rebound after the correction during the late US session.

Currently, during the Asian session, the market is consolidating mildly, reflecting sustained buying pressure, though without a clear breakout.
A confirmed break above 3340–3345 would likely reaffirm the uptrend.
Today’s Strategy: Prioritise Buy setups following the bullish momentum. However, Sell entries can be considered at strong resistance zones with rejection signals.

📌 KEY PRICE LEVELS:
Resistance: 3358 – 3367 – 3393 – 3400 – 3423
Support: 3329 – 3275 – 3259 – 3245
🎯 TRADE SETUPS:

🔸 SCALPING SELL
Entry: 3358 – 3360
SL: 3364
TP: 50–100 pips

🔸 STRATEGIC SELL
Entry: 3372 – 3374 | SL: 3378 | TP: 3360 – 3342 – 3300
Entry: 3409 – 3411 | SL: 3416 | TP: 3390 – 3375 – 3350

🔸 STRATEGIC BUY
Buy only after a strong break above 3345
Entry: 3324 | SL: 3319 | TP: 3340 – 3356 – 3370
Entry: 3311 – 3313 | SL: 3306 | TP: 3322 – 3350 – 3366

📎 NOTE:
The current retracement remains within a bullish structure. Stay close to sensitive zones to optimise entries and maximise returns.
I will provide further updates throughout the day if any unexpected signals emerge.