Gold closed the opening gap

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Hi, I’m Maicol, an Italian trader.
I study Gold since 2019.

I need your support.
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Please read the description to understand the trading plan.
Don’t focus only on the chart. Thanks.

🌞 GOOD MORNING EVERYONE 🌞

🪙 Gold price action

Right now price came from almost tapping the 4900 level, which is the weekly short shift level.

Daily: still bullish, but printed a lower high after Friday
H4: made a small bearish shift in structure

Yesterday, after a bullish session that filled the gap left at the weekly open, we finally got the reaction we were waiting for.
At the moment, I see price heading below the daily lows.

Let’s see how it behaves around this H4 open level.
On a break, we could push even lower.

Once we reach the 4700 area, I’ll evaluate whether to look for lower zones.

The situation remains very delicate. It could change at any moment.

The US and Iran remain silent as the deadline expires in 1 day.

The chances of an agreement are low.
Both sides remain rigid and unwilling to compromise.

For this reason, I expect a possible escalation.

Escalation → oil prices rising → I expect gold to move lower.
De-escalation → oil prices dropping → I expect gold to move higher.

Stay sharp.

📬 If you have any questions, message me. I’ll reply.

In the meantime, have a good day.

-GOOD TRADING
-MANAGE RISK
-BE PATIENT

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