Gold 1H – Correction or Continuation After Supply Test?

Gold on the 1H timeframe is trading near 3,861 after consolidating below a premium supply zone at 3876–3874. Structure shows a recent BOS to the upside, but current rejection signals potential engineered liquidity sweeps into the nearby FVG and discount demand zones. The first support rests at 3796–3798, aligning with discount territory and previous accumulation, offering scope for continuation if price reacts positively.
From the macro side, today’s headlines point to persistent U.S. dollar strength as traders await fresh Federal Reserve guidance on inflation and rate path. Meanwhile, heightened geopolitical concerns in energy markets are maintaining safe-haven flows, adding volatility to gold’s intraday swings.
This dual backdrop sets up a tactical approach: fading rejections at supply while being prepared to enter on discounted dips at demand.
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📌 Key Structure & Liquidity Zones (1H):
• 🔴 SELL GOLD 3876–3874 (SL 3883): Premium supply zone, downside targets at 3850 → 3835 → 3815.
• 🟢 BUY ZONE SUPPORT 3796–3798 (SL 3790): Discount demand zone aligned with BOS, upside targets at 3820 → 3845 → 3860+.
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📊 Trading Ideas (Scenario-Based):
🔻 Sell Setup – Supply Rejection (3876–3874)
• Entry: 3876–3874
• Stop Loss: 3883
• Take Profits:
 TP1: 3850
 TP2: 3835
 TP3: 3815
🔺 Buy Setup – Demand Mitigation (3796–3798)
• Entry: 3796–3798
• Stop Loss: 3790
• Take Profits:
 TP1: 3820
 TP2: 3845
 TP3: 3860+
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🔑 Strategy Note
Gold remains in a corrective phase after testing supply. Expect liquidity sweeps into discount levels before continuation. With the dollar strengthening and Fed commentary in focus, intraday traders should:
• Fade supply rejections at 3876–3874.
• Scale into buys around 3796–3798 if liquidity is cleared.