Gold is currently trading near the 4H resistance zone after a short-term recovery move. The price is approaching a key supply area where a breakout or rejection can decide the next direction. I am planning a long entry only after a proper retest to avoid chasing the move.
Key Levels:
• Resistance: 4045 – 4075
• Strong Support: 3955 – 3980 (200 EMA zone)
• Major Upside Target after breakout: 4210 – 4230
Trade Plan:
1. Let price approach the resistance zone
2. Wait for breakout and then retest near 4045 – 4075
3. Look for bullish rejection candle to confirm entry
4. If retest holds, next leg up toward 4210 is possible
Why Wait for Retest?
Retest reduces false breakout risk and improves risk to reward. Market is still recovering from a previous strong sell-off, so patience gives a more controlled entry.
Sentiment: Neutral to Bullish
Timeframe: 4H
Style: Swing / Position
Disclaimer:
This is not financial advice, just my personal price structure view.
Key Levels:
• Resistance: 4045 – 4075
• Strong Support: 3955 – 3980 (200 EMA zone)
• Major Upside Target after breakout: 4210 – 4230
Trade Plan:
1. Let price approach the resistance zone
2. Wait for breakout and then retest near 4045 – 4075
3. Look for bullish rejection candle to confirm entry
4. If retest holds, next leg up toward 4210 is possible
Why Wait for Retest?
Retest reduces false breakout risk and improves risk to reward. Market is still recovering from a previous strong sell-off, so patience gives a more controlled entry.
Sentiment: Neutral to Bullish
Timeframe: 4H
Style: Swing / Position
Disclaimer:
This is not financial advice, just my personal price structure view.
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.
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.