Gold Price Correction Alert: Watch Key Fibonacci Support as Mark
Market Structure Analysis:
Reversal Signal:
Gold recently surged to a new high of $3,357.6, then quickly reversed and broke below the early-session low, forming a classic “bull trap” or false breakout, suggesting a technical correction could follow in the short term.
Historical Pattern Recurrence:
The current price action mirrors the April 11 and April 3 market structure — early strength followed by steep intraday drops. This indicates a potential trend cooling phase or consolidation window.
🔧 Key Technical Levels:
Primary Support:
$3,292–$3,294: 0.382 Fibonacci retracement level, also the previous session’s confirmed support and breakout point, aligning with the trend channel switch.
Secondary Support Levels (if broken):
$3,283 (green channel line), followed by $3,305 → $3,292 → $3,283 as downside targets.
Resistance Zones:
$3,356–$3,358: Recent high and primary resistance
$3,344–$3,345: Intraday rebound resistance
$3,330–$3,333: European session breakdown level
📊 Trend Bias:
The current pullback is seen as a technical retracement within an intact medium-term bullish trend.
This is considered a consolidation phase, not a trend reversal, providing opportunities for repositioning rather than exit.
🎯 Strategic Trading Guidance:
For Short-Term Traders:
Monitor the $3,292–$3,283 zone for support confirmation. If the area holds, consider buying on dips with tight stops for a rebound play.
For Conservative Traders:
Wait for a breakout above $3,333–$3,356 before entering long positions to confirm bullish resumption.
Risk Management:
Set clear stop-loss levels, avoid chasing breakouts, and stay disciplined amid potential volatility and fake-outs.
Reversal Signal:
Gold recently surged to a new high of $3,357.6, then quickly reversed and broke below the early-session low, forming a classic “bull trap” or false breakout, suggesting a technical correction could follow in the short term.
Historical Pattern Recurrence:
The current price action mirrors the April 11 and April 3 market structure — early strength followed by steep intraday drops. This indicates a potential trend cooling phase or consolidation window.
🔧 Key Technical Levels:
Primary Support:
$3,292–$3,294: 0.382 Fibonacci retracement level, also the previous session’s confirmed support and breakout point, aligning with the trend channel switch.
Secondary Support Levels (if broken):
$3,283 (green channel line), followed by $3,305 → $3,292 → $3,283 as downside targets.
Resistance Zones:
$3,356–$3,358: Recent high and primary resistance
$3,344–$3,345: Intraday rebound resistance
$3,330–$3,333: European session breakdown level
📊 Trend Bias:
The current pullback is seen as a technical retracement within an intact medium-term bullish trend.
This is considered a consolidation phase, not a trend reversal, providing opportunities for repositioning rather than exit.
🎯 Strategic Trading Guidance:
For Short-Term Traders:
Monitor the $3,292–$3,283 zone for support confirmation. If the area holds, consider buying on dips with tight stops for a rebound play.
For Conservative Traders:
Wait for a breakout above $3,333–$3,356 before entering long positions to confirm bullish resumption.
Risk Management:
Set clear stop-loss levels, avoid chasing breakouts, and stay disciplined amid potential volatility and fake-outs.
Dagangan aktif
It is recommended that brothers mainly go long and wait for the low signal to be confirmed before entering the market.
Market trading is not only as sharp as a falcon, but also as delicate as a painting!
Only in this way can we ensure continuous profits!
One-to-One membership service:
t.me/Hobart1988
Only in this way can we ensure continuous profits!
One-to-One membership service:
t.me/Hobart1988
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Market trading is not only as sharp as a falcon, but also as delicate as a painting!
Only in this way can we ensure continuous profits!
One-to-One membership service:
t.me/Hobart1988
Only in this way can we ensure continuous profits!
One-to-One membership service:
t.me/Hobart1988
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.