📌 In yesterday’s analysis, I mentioned that although Gold corrected deeper than expected, dropping below 3400, the bullish structure remained intact — and I stayed true to that view by buying dips.
🎯 The trade didn’t go as planned. Fortunately, the New York rebound from 3350 helped me exit at breakeven.
🧭 So now the big question is:
Is Gold reversing to the downside?
The answer: Not confirmed yet.
The structure is technically still bullish, but the chart is far from pretty.
🧨 What’s going wrong?
❌ Bearish engulfing candle on Wednesday – I chose to ignore it yesterday, but it’s still there.
❌ The breakout above 3375 (ascending triangle resistance) is failing – and could now turn into a false breakout trap.
❌ The ascending trendline from January 2025 is under pressure.
❌ And if today we close near 3350, the weekly chart will show a bearish Pin Bar – not exactly a sign of strength.
📉 My current plan:
- If price rallies back above 3380 → I’m looking to sell into strength, not buy.
- If we break below 3350 → I’ll also look to sell the breakdown.
Right now, for Gold to regain bullish momentum, it needs to reclaim 3400. No compromise.
⚠️ Summary:
Yes, the bigger structure is still bullish.
But momentum is fading, and price action is starting to turn against the bulls.
We need confirmation, not hope.
If 3350 breaks cleanly – things could accelerate to the downside.
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.
🎯 The trade didn’t go as planned. Fortunately, the New York rebound from 3350 helped me exit at breakeven.
🧭 So now the big question is:
Is Gold reversing to the downside?
The answer: Not confirmed yet.
The structure is technically still bullish, but the chart is far from pretty.
🧨 What’s going wrong?
❌ Bearish engulfing candle on Wednesday – I chose to ignore it yesterday, but it’s still there.
❌ The breakout above 3375 (ascending triangle resistance) is failing – and could now turn into a false breakout trap.
❌ The ascending trendline from January 2025 is under pressure.
❌ And if today we close near 3350, the weekly chart will show a bearish Pin Bar – not exactly a sign of strength.
📉 My current plan:
- If price rallies back above 3380 → I’m looking to sell into strength, not buy.
- If we break below 3350 → I’ll also look to sell the breakdown.
Right now, for Gold to regain bullish momentum, it needs to reclaim 3400. No compromise.
⚠️ Summary:
Yes, the bigger structure is still bullish.
But momentum is fading, and price action is starting to turn against the bulls.
We need confirmation, not hope.
If 3350 breaks cleanly – things could accelerate to the downside.
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
Three black crows break the trend line.Important close today.
Pin Bar weekly under the trend line is strongly bearish
📈 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.