GOLD: Technical Forecast and Trading Plan for the upcoming week

24 May

GOLD Hello Traders
Wish you best of luck, make sure to stay a way from groups who provide you signals without showing their analysis. Take one reference as a mentor till you can analyze by yourself.

Based on the daily chart, here's a technical forecast and trading plan for the upcoming week (end of May 2025). This is a purely technical read, and should be adjusted in light of macroeconomic news (e.g., FOMC, GDP, Durable Goods, etc.).

🔍 Chart Summary:

Price recently pulled back from the highs (~3500) and is now retesting previous resistance turned support near 3300–3350, attempting a bullish continuation.
Recent candles show higher lows and bullish bodies – momentum is returning upward.

📈 Bullish Scenario (Primary)
🔹 Breakout above 3370 (4 Hr Candle closure).
🎯 Target Points:
TP1: 3408
TP2: 3438
TP3: 3,500 (if no rejection observed at 3,440-3,450)
🔹Another Bullish scenario is valid (which is risky) to buy on pullback: around 3315–3330 within
SL @3,270.

📌 Notes for Bullish Scenario:
🔹If price consolidates above 3370, breakout buy is safer.
🔹Wait for a bullish rejection wick or engulfing candle (from 3315-3330) on 4H to confirm
long.

📉 Bearish Scenario (Alternative if rejection happens)
🔹Breakdown below 3280 (4 Hr Candle closure).
🔹If sharp rejection or doji/inverted hammer appears you can SELL near: 3440–3450.

🎯 Target Points:
TP1: 3240
TP2: 3200
TP3: 3167


📌 Notes for Bearish Scenario:
🔹This is only valid if rejection near 3440–3450 happens with momentum loss with SL @ 3,465.
🔹Below 3280, the market would show signs of deeper correction.

🧠 Strategic Recommendation:
🔹Bias: Bullish unless 3275 is broken.
🔹Session to Watch for Entries: London/NY overlap.
🔹Timeframes for Entry Confirmation: 1H or 4H.



TVC:GOLD https://www.tradingview.com/x/TCz7kbeE/

1 Haz

İşlem aktif

Recap:
🔎 What Actually Happened (Last Week Review)
From the 1H chart:

Price did touch above 3350, then reversed sharply.

It created a lower high, followed by a drop.

Tapped a low near 3270, bounced, and is currently ranging between 3280 – 3317.

🧠 Conclusion:
The bearish play initiated well — price respected the supply zone and rejected as forecasted.

✅ TP1 (3270) was hit.
🟨 TP2 (3190) not yet reached.
🔁 Current price is retracing/accumulating near equilibrium.

4 gün önce

İşlem kapandı: hedefe ulaştı

HELLO EVERYONE

JUST PERFECTTTTT...
AFTER 4HR/DAILY CANDLE CLOUSER, SHINY METAL HITS 3,408 AND 3,438 .
The rejection from 3,440-3,450 was expected as it was rejected two Times.
make sure to get notified for my next publication...
The MARKET WILL BEHAVE JUST LIKE A PIECE OF FIRE ... CAREFUL , CAREFUL AND CAREFUL
Good Luck