Gold is currently trading around 5020 after breaking below the previous support zone near 5080-5100 which has now turned into resistance. The market structure shows short-term bearish pressure as price made a BOS and formed a strong low near 5019. Price is also moving under the descending trendline which indicates sellers still control the market. However the 5000-5015 zone is acting as an important support level so a short-term retracement upward is possible before any further drop toward 4950 or even 4900 liquidity.
Trade Plan Sell Setup
Sell Zone: 5080-5100
Trigger: H1 bearish rejection or strong bearish candle close from this resistance zone
Targets: 5040, 5010, 4950
Invalidation: H1–H4 close above 5120
Trade Plan Buy Setup
Buy Zone: 5000 – 5015 (strong support area)
Trigger: H1 bullish rejection or strong bullish candle close from support
Targets: 5050, 5080, 5100
Invalidation: H1 close below 4985
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade Plan Sell Setup
Sell Zone: 5080-5100
Trigger: H1 bearish rejection or strong bearish candle close from this resistance zone
Targets: 5040, 5010, 4950
Invalidation: H1–H4 close above 5120
Trade Plan Buy Setup
Buy Zone: 5000 – 5015 (strong support area)
Trigger: H1 bullish rejection or strong bullish candle close from support
Targets: 5050, 5080, 5100
Invalidation: H1 close below 4985
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade ativo
Trade fechado: objetivo atingido
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.