Hello traders,
The last two trading sessions have been very successful, and I hope they have helped build your confidence in approaching the markets. Today, I will share my perspective on the next steps for gold during the New York session.
Trend Outlook
Gold has declined sharply and reacted well at the liquidity zones and support areas I highlighted earlier.
Although the market has bounced twice from these levels, which may lead some to expect a recovery, my view is that the overall structure still favours the sellers. It is unlikely we will see a significant correction during this session.
Towards the end of the US session, trading volumes may ease, but I believe the downward move will continue, albeit at a slower pace.
Trading Strategies
Sell Setup
Zone: 3642 – 3644
SL: 3648
TP: 3635 – 3627 – 3615 – 3600
Buy Setup 1
Zone: 3613 – 3615
SL: 3608
TP: 3625 – 3638 – 3645
Buy Setup 2 (longer-term)
Zone: 3595 – 3598
SL: 3590
TP: 3610 – 3625 – 3638 – 3645 – 3670
Conclusion
For the New York session, the priority remains to follow the bearish bias, seeking Sell opportunities on the lower timeframes. Buy trades should only be considered at the strong support zones mentioned above.
Stick to the plan and take positions when the setups align.
Follow along to share ideas and receive the quickest updates as the market evolves.
