📌 Quick recap from yesterday:
In my previous analysis, I mentioned that I was looking to buy dips around 3400, expecting a continuation move toward the ATH near 3500.
That was the plan.
But as the day unfolded, I removed my pending buy order — and explained exactly why in an educational post on how context can override entry levels.
If you read that, you already understand:
It’s not where price goes. It’s how it gets there.
________________________________________
📉 So… where are we now?
The big question is:
Was this just a deeper correction, or is Gold preparing to shift direction entirely?
In my opinion, we’re still in a healthy correction, not a reversal.
Why?
• Price remains above the horizontal support — the same level that acted as resistance last week
• The market is still above the trendline from mid-May
• No breakdown, no major structure violation — just deeper retracement after a sharp impulsive move
________________________________________
📈 What’s the plan going forward?
As long as these two supports hold, I believe the buy-the-dip narrative remains valid — even at better prices.
In fact, I already entered a new long position about an hour ago, which is currently up around 90 pips at the time of writing.
My bias stays bullish unless proven otherwise.
________________________________________
📌 Conclusion:
Yes, the correction went deeper than expected.
Yes, I removed a pending order — because the reaction was not what I wanted to see.
But structure still supports continuation, and I remain in the buy-the-dip camp as long as key support holds. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
In my previous analysis, I mentioned that I was looking to buy dips around 3400, expecting a continuation move toward the ATH near 3500.
That was the plan.
But as the day unfolded, I removed my pending buy order — and explained exactly why in an educational post on how context can override entry levels.
If you read that, you already understand:
It’s not where price goes. It’s how it gets there.
________________________________________
📉 So… where are we now?
The big question is:
Was this just a deeper correction, or is Gold preparing to shift direction entirely?
In my opinion, we’re still in a healthy correction, not a reversal.
Why?
• Price remains above the horizontal support — the same level that acted as resistance last week
• The market is still above the trendline from mid-May
• No breakdown, no major structure violation — just deeper retracement after a sharp impulsive move
________________________________________
📈 What’s the plan going forward?
As long as these two supports hold, I believe the buy-the-dip narrative remains valid — even at better prices.
In fact, I already entered a new long position about an hour ago, which is currently up around 90 pips at the time of writing.
My bias stays bullish unless proven otherwise.
________________________________________
📌 Conclusion:
Yes, the correction went deeper than expected.
Yes, I removed a pending order — because the reaction was not what I wanted to see.
But structure still supports continuation, and I remain in the buy-the-dip camp as long as key support holds. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
تم فتح الصفقة
Gold dipped to my buy zone"May the bulls be with us!":)
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.