Scalping the Golden Zone
As expected, we capitalized on the key support zone, securing an additional 100-120 pips on a quick long scalp. These fast-moving plays continue to deliver solid returns!
What’s Next for Gold?
Strong Support Zone Identified – Price has reached a critical demand area, signaling a potential short-term pullback.
1H Order Block Retest – We anticipate a retracement or a possible tag-in before further movement.
Risk-Reward Setup – A well-structured long entry from this zone could yield another profitable trade when markets open Monday.
Major Resistance in Place – Despite a bounce, selling pressure remains strong, and Friday’s momentum suggests further downside in the near term.
Trading Plan:
Look for long setups at the identified support with a tight SL & proper R:R.
Keep an eye on the 1H bearish price action for confirmation of a continued move down.
If resistance holds firm, we could see another strong sell-off later in the week.
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