Gold is currently testing a supply zone on the 30-minute timeframe.
Price has rallied into the zone while respecting the downtrend channel structure.
This area has acted as strong resistance in past moves, suggesting potential for bearish rejection.
Market structure shows lower highs and lower lows, with sellers defending the channel top.
Early signs of bearish candles and rejection wicks indicate supply is active.
A breakdown below minor support would confirm short-term downside momentum.
Trade Plan:
1. Wait for a clear bearish candle rejecting the supply zone.
2. Entry only after confirmed rejection to avoid early shorts.
3. Place stop-loss above the supply zone for controlled risk.
4. Scale partial profits near 3280–3290 support.
5. Final target around 3240 at the lower channel boundary.
Key Notes:
1. Patience is critical – no entry without confirmation.
2. Risk management is essential – define stops and position sizing.
3. Setup aligns with smart money principles of selling into supply.
Like, comment, share & follow for more premium trade ideas.
Price has rallied into the zone while respecting the downtrend channel structure.
This area has acted as strong resistance in past moves, suggesting potential for bearish rejection.
Market structure shows lower highs and lower lows, with sellers defending the channel top.
Early signs of bearish candles and rejection wicks indicate supply is active.
A breakdown below minor support would confirm short-term downside momentum.
Trade Plan:
1. Wait for a clear bearish candle rejecting the supply zone.
2. Entry only after confirmed rejection to avoid early shorts.
3. Place stop-loss above the supply zone for controlled risk.
4. Scale partial profits near 3280–3290 support.
5. Final target around 3240 at the lower channel boundary.
Key Notes:
1. Patience is critical – no entry without confirmation.
2. Risk management is essential – define stops and position sizing.
3. Setup aligns with smart money principles of selling into supply.
Like, comment, share & follow for more premium trade ideas.
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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.
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.