Gold Weekly Analysis [03 - 07 August, 2026]Probable Scenario Analysis and Trade Plan for Gold TVC:GOLD for the week (03 - 07 August, 2026).
🟢 Bullish Scenario
Presently, there is no bullish scenario. The price is in a grinding range-bound consolidation. The zone (4150 - 4100) is a strong resistance zone (SRZ). If the price sustains above 4150, then a bullish setup would trigger. The probable bullish targets above 4150 would be - 4200 and 4250. There might be strong resistance at 4250. Next, if the price sustains above 4250, then the probable bullish target would be 4300.
🔴 Bearish Scenario
Presently, there is no bearish scenario. The price is in a grinding range-bound consolidation. Though the main trend is bearish and there is a strong bearish bias, there is no observable bearish scenario. The zone (4000 - 3950) is a strong support zone (SSZ). However, if the price decisively breaks down below 3950, then a bearish setup would activate. The probable bearish target below 3950 would be 3900. Level 3900 might offer strong support. Next, if the price breaks down below 3900, then there will be a strong sell-off in the market. The probable bearish targets below 3900 would be - 3850 and 3800.
🟡 No Trading Zone (NTZ): (4150 - 3950).
⏺ Range of Consolidation (ROC): (4250 - 3950).
Here, 4100 is the median of the ROC. The median works like an intraday sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
It will be the first week of August 2026. All the events in this week have medium impact. There is no high-impact event. Also, there are no holidays.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
