
CFDs on Gold (US$ / OZ) forum

Direction: Buying
Entry point Zone: 3,501 – 3,514
Stop Loss (SL): 3,495 (below OB zone)
Take Profit (TP): 3,590.00
Risk–Reward:Ratio ≈ 1:3
plan: Trend is bullish, so best to look for long entries only. Wait for price to retest OB buying zone before entering.

On the macro side, Fed repo dropped, inflation is creeping higher, tariff dilemmas linger, and the rate-cut narrative with Lisa Cook drama is adding fuel resulting in an overly bullish bull bull phase. Still, a 100$ retracement is overdue.
That said for day trades ,I’ll suggest buy the dips until you see a daily close below 3500. Only then does the retracement ride open up. With JOLTS data later today, and Labour data should not create surprise , stay cautious if the print doesn’t align with last month Nfp , volatility could get wild. Trade safe
Take Profit 1 (Target Up): 3,571.89
Take Profit 2 (Target Down): 3,474.67
Stop Loss: 3,522.78
📈 Bias: Bullish as long as price stays above 3,523.00.
📉 Alternative: If price breaks below 3,523.00, expect a decline toward 3,475.00.

The daily chart currently shows six consecutive gains, with prices above the upper Bollinger Band. The RSI indicator is nearing 80, while prices are deviating from the 10-day moving average (MA) at 3430. According to Gann's time cycle theory, 7-9 consecutive gains constitute a short-term window. Considering the RSI, watch for a pullback and correction in gold in the second half of this week. However, avoid speculating on the top until a top pattern emerges and is confirmed. Only when a top pattern or a combination of fundamental and technical factors is established will there be a selling opportunity!
The RSI on the 1-hour and 4-hour charts is currently diverging, but the moving averages are still forming a golden cross and moving upwards. The Bollinger Bands are opening upwards, and the candlestick chart structure is bullish. Today's trading strategy is to buy on dips. After the decline begins at 3546, watch for a correction and correction within the day. Once support is regained, buy bullish signals again.
Key Points:
First Support Level: 3516, Second Support Level: 3500, Third Support Level: 3488
First Resistance Level: 3557, Second Resistance Level: 3568, Third Resistance Level: 3583
Trading Strategy:
Buy: 3520-3523, SL: 3512, TP: 3550-3570;


Target $3400