XAUUSD – Bullish Momentum Fading? Key Correction Levels Ahead (23 July)
📰 Market Overview
Gold surged strongly overnight, driven by:
A speech from Fed Chair Jerome Powell, with no hints of resignation or major policy shift.
Rising geopolitical tensions between the US, China, and the EU — with the 1st of August marked as a key deadline.
A notable drop in US bond yields and the US Dollar, triggering increased demand for safe-haven assets like gold.
While today’s economic calendar is quiet, the market remains sensitive to sudden volatility.
📉 Technical Analysis
On the H4 chart, the recent bullish wave shows signs of exhaustion. Reversal candles are now forming on the H1 and M30 timeframes — suggesting a potential correction in the short term.
The 3412 – 3410 support zone will be critical. If price breaks below and invalidates the ascending trendline, we may see a deeper pullback toward lower liquidity zones (FVGs).
Below that, the 335x region offers strong confluence (Fibonacci 0.618 + previous demand zone), making it a prime area for potential long entries if price action confirms a bounce.
📌 Trade Setups to Watch
🔻 SELL ZONE: 3469 – 3471
Stop Loss: 3475
Take Profit Targets: 3465, 3460, 3455, 3450, 3445, 3440, 3430, 3420
→ Wait for a breakout and retest before shorting.
🔸 BUY SCALP: 3385 – 3383
Stop Loss: 3379
TP Targets: 3390, 3394, 3398, 3402, 3406, 3410
→ Ideal for intraday pullback entries with clear structure.
🔹 STRONG BUY ZONE: 3356 – 3354
Stop Loss: 3350
TP Targets: 3360, 3364, 3368, 3372, 3376, 3380, 3390, 3400
→ Great long-term entry zone with technical alignment (liquidity + fib levels).
⚠️ Risk Management Reminder
Even in low-news sessions, markets may spike unexpectedly due to political statements or liquidity sweeps.
Always respect your TP/SL levels — smart trading is protected trading.
💬 Patience breeds precision. Wait for the zone, trust the plan, and manage the trade.
📰 Market Overview
Gold surged strongly overnight, driven by:
A speech from Fed Chair Jerome Powell, with no hints of resignation or major policy shift.
Rising geopolitical tensions between the US, China, and the EU — with the 1st of August marked as a key deadline.
A notable drop in US bond yields and the US Dollar, triggering increased demand for safe-haven assets like gold.
While today’s economic calendar is quiet, the market remains sensitive to sudden volatility.
📉 Technical Analysis
On the H4 chart, the recent bullish wave shows signs of exhaustion. Reversal candles are now forming on the H1 and M30 timeframes — suggesting a potential correction in the short term.
The 3412 – 3410 support zone will be critical. If price breaks below and invalidates the ascending trendline, we may see a deeper pullback toward lower liquidity zones (FVGs).
Below that, the 335x region offers strong confluence (Fibonacci 0.618 + previous demand zone), making it a prime area for potential long entries if price action confirms a bounce.
📌 Trade Setups to Watch
🔻 SELL ZONE: 3469 – 3471
Stop Loss: 3475
Take Profit Targets: 3465, 3460, 3455, 3450, 3445, 3440, 3430, 3420
→ Wait for a breakout and retest before shorting.
🔸 BUY SCALP: 3385 – 3383
Stop Loss: 3379
TP Targets: 3390, 3394, 3398, 3402, 3406, 3410
→ Ideal for intraday pullback entries with clear structure.
🔹 STRONG BUY ZONE: 3356 – 3354
Stop Loss: 3350
TP Targets: 3360, 3364, 3368, 3372, 3376, 3380, 3390, 3400
→ Great long-term entry zone with technical alignment (liquidity + fib levels).
⚠️ Risk Management Reminder
Even in low-news sessions, markets may spike unexpectedly due to political statements or liquidity sweeps.
Always respect your TP/SL levels — smart trading is protected trading.
💬 Patience breeds precision. Wait for the zone, trust the plan, and manage the trade.
Trade active
BUY SCALP Signal Success – +100 PIPS Secured!Price reacted perfectly at the liquidity exhaustion zone formed by the FVG HIGH and the Fibonacci 0.5 retracement level.
📌 Clean technical confluence – sharp bounce – and precise execution.
🎉 Congrats to all traders who followed the setup and secured solid profits in a high-volatility session!
💬 Stay disciplined, follow the zones, and manage risk. More setups coming soon.
Trade closed: target reached
🔻 Gold dropped as expected from 343x, sweeping liquidity at the FVG HIGH ZONE (H1) and triggering a clean +100 PIPS reaction from the intraday BUY SCALP zone (3386–3384) — confluence of Fibo 0.5 + OBS BUY ZONE.📉 Price has now broken below the ascending trendline and is likely to continue falling, targeting the next FVG zones below.
🎯 Watch for a pullback to enter SELL positions with optimal risk-reward.
Chart:
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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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
t.me/+IMP0jWwLSGNmYTRl
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
t.me/+IMP0jWwLSGNmYTRl
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.