Gold started the week on a weak note, opening with a gap down and extending losses after failing to completely fill the gap initially — a move that clearly suggested weakness early on.
However, after printing a low around 4650, the second wave of selling found strong buyers in that zone.
Gold reclaimed the local 4680 resistance, filled the gap entirely after the break back above, and then exploded higher overnight, reaching as high as 4775.
But then… Gold did what Gold does best.
After touching that resistance area, price reversed aggressively, erased the entire rally, and is now trading back below the 4700 figure.
So the question is:
Can we extract anything meaningful from these chaotic moves?
In my opinion — yes.
Why I lean bearish:
- Despite the strong rebound yesterday, buyers failed to maintain control
- The move above 4750 had no continuation
- Overnight strength was completely rejected
- Gold is once again trading back under a key psychological zone
And more importantly:
I simply don’t believe Gold is back at those “easy buy and everyone makes money” levels.
This kind of violent rejection after an aggressive rally often signals distribution rather than accumulation.
Trading plan:
At this moment, I prefer to sell rallies, ideally around the 4750 zone if price retests it again.
Main downside target:
➡️ 4600 zone
➡️ Roughly 1500 pips potential move
What invalidates the bearish idea?
Sustained buying above 4750 and the creation of a new local high.
Until then, for me, rallies are selling opportunities — not reasons to chase longs 🚀
However, after printing a low around 4650, the second wave of selling found strong buyers in that zone.
Gold reclaimed the local 4680 resistance, filled the gap entirely after the break back above, and then exploded higher overnight, reaching as high as 4775.
But then… Gold did what Gold does best.
After touching that resistance area, price reversed aggressively, erased the entire rally, and is now trading back below the 4700 figure.
So the question is:
Can we extract anything meaningful from these chaotic moves?
In my opinion — yes.
Why I lean bearish:
- Despite the strong rebound yesterday, buyers failed to maintain control
- The move above 4750 had no continuation
- Overnight strength was completely rejected
- Gold is once again trading back under a key psychological zone
And more importantly:
I simply don’t believe Gold is back at those “easy buy and everyone makes money” levels.
This kind of violent rejection after an aggressive rally often signals distribution rather than accumulation.
Trading plan:
At this moment, I prefer to sell rallies, ideally around the 4750 zone if price retests it again.
Main downside target:
➡️ 4600 zone
➡️ Roughly 1500 pips potential move
What invalidates the bearish idea?
Sustained buying above 4750 and the creation of a new local high.
Until then, for me, rallies are selling opportunities — not reasons to chase longs 🚀
Transaction en cours
Pressure is strongly to the downsideGold can not regain 4700
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📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.