📉 What happened yesterday?
As expected, XAUUSD made another leg down, breaking even below my buy zone (3330–3335) and hitting a low at 3320. From there, we’re now seeing a modest rebound, with gold trading around 3333 at the time of writing.
📌 Current position:
I'm currently holding a long position. It hovers around break-even – fluctuating between small gains and small losses. Nothing solid yet.
❓Key question:
Was this just a deep pullback within a bullish structure… or the beginning of a deeper trend reversal?
🔍 Why bulls still have a case:
• Price prints higher lows – bullish structure technically remains intact
• A clean break above 3350 would show short-term strength
• A confirmed break above 3375 would activate a bullish ascending triangle → targeting the 3450 zone
⚠️ But here's the concern:
• Yesterday’s dip to 3330 happened during the New York session (strong volume)
• The bounce from 3320 has been weak, with no follow-through
• Daily candle closed near the lows, showing a long upper wick → a classic bearish signal
• The confluence support now lies at 3310–3320. A red daily candle closing in this area could mean the medium-term trend is flipping
🎯 My trading plan:
Although I'm still holding my buy, if bulls don’t recover 3350 quickly, I will consider closing early. The break of 3310 would shift my bias bearish.
________________________________________
📌 Conclusion:
We’re in a critical zone. The bullish structure isn’t broken yet, but yesterday’s action was not encouraging. If buyers fail to reclaim control soon, the market may be preparing for a deeper correction. Stay sharp. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
As expected, XAUUSD made another leg down, breaking even below my buy zone (3330–3335) and hitting a low at 3320. From there, we’re now seeing a modest rebound, with gold trading around 3333 at the time of writing.
📌 Current position:
I'm currently holding a long position. It hovers around break-even – fluctuating between small gains and small losses. Nothing solid yet.
❓Key question:
Was this just a deep pullback within a bullish structure… or the beginning of a deeper trend reversal?
🔍 Why bulls still have a case:
• Price prints higher lows – bullish structure technically remains intact
• A clean break above 3350 would show short-term strength
• A confirmed break above 3375 would activate a bullish ascending triangle → targeting the 3450 zone
⚠️ But here's the concern:
• Yesterday’s dip to 3330 happened during the New York session (strong volume)
• The bounce from 3320 has been weak, with no follow-through
• Daily candle closed near the lows, showing a long upper wick → a classic bearish signal
• The confluence support now lies at 3310–3320. A red daily candle closing in this area could mean the medium-term trend is flipping
🎯 My trading plan:
Although I'm still holding my buy, if bulls don’t recover 3350 quickly, I will consider closing early. The break of 3310 would shift my bias bearish.
________________________________________
📌 Conclusion:
We’re in a critical zone. The bullish structure isn’t broken yet, but yesterday’s action was not encouraging. If buyers fail to reclaim control soon, the market may be preparing for a deeper correction. Stay sharp. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade active
XauUsd is trading at the top of the range.break?
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.