Summary
D1 still bearish; H1/H4 rebound runs into 4058-4071 resistance
Gold trades below the D1 Ichimoku cloud and Kijun 4101.8 with MACD under signal. H4/H1 are bouncing from 3975, but price sits at today's high zone 4058-4071 while M1-M5 RSI is overbought.
Key levels
- Resistance · Minor4,101.80
- Resistance · Minor4,083.00
- Resistance4,066.00 – 4,071.00
- Now4,056.60
- Support · Minor4,050.00
- Support4,028.00 – 4,033.00
- Support · Minor3,983.00
Timeframes
| Timeframe | Direction | Reading |
|---|---|---|
| D1 | Downtrend below the cloudBelow cloud 4320-4434, Kijun 4101.8, Tenkan 4083; MACD -54.5 < signal -48.9; RSI18 41RSI(18) 41.0MACD -54.53 / -48.91Kijun 4101.79BB mid 4113.12 | Below cloud 4320-4434, Kijun 4101.8, Tenkan 4083; MACD -54.5 < signal -48.9; RSI18 41RSI(18) 41.0MACD -54.53 / -48.91Kijun 4101.79BB mid 4113.12 |
| H4 | Rebound under the cloudAbove Tenkan 4030 / Kijun 4033.6, below cloud 4142; MACD -3.75 crossed above signal -12.87; RSI18 51RSI(18) 51.1MACD -3.75 / -12.87Kijun 4033.61BB upper 4070.77 | Above Tenkan 4030 / Kijun 4033.6, below cloud 4142; MACD -3.75 crossed above signal -12.87; RSI18 51RSI(18) 51.1MACD -3.75 / -12.87Kijun 4033.61BB upper 4070.77 |
| H1 | Just above the cloudAbove cloud top 4049.8 and Kijun 4032; MACD 5.03 slipped under signal 5.36; RSI18 58RSI(18) 58.5MACD 5.03 / 5.36BB mid 4050.96BB upper 4071.27 | Above cloud top 4049.8 and Kijun 4032; MACD 5.03 slipped under signal 5.36; RSI18 58RSI(18) 58.5MACD 5.03 / 5.36BB mid 4050.96BB upper 4071.27 |
| M15 | At the upper bandPrice at BB upper 4058.2 and 20-bar high 4058.3; RSI18 59.9, M5 RSI 66.7, M1 RSI 74RSI(18) 59.9BB upper 4058.24 | Price at BB upper 4058.2 and 20-bar high 4058.3; RSI18 59.9, M5 RSI 66.7, M1 RSI 74RSI(18) 59.9BB upper 4058.24 |
Trade plan
- SellPrimarySell the rejection at 4068-4076
Trigger: Price tests 4068-4076 and H1 closes back below 4066, or M15 RSI turns down from above 70
- Entry
- 4,068.00 – 4,076.00
- Stop loss
- 4,104.00
- Target 1
- 4,033.00
- Target 2
- 3,985.00
Invalidation: H4 close above 4083 (D1 Tenkan) cancels the sell
- BuyBreakoutBuy the pullback after a break of 4071
Trigger: H4 closes above 4071, then price pulls back to 4050-4056 and holds
- Entry
- 4,050.00 – 4,056.00
- Stop loss
- 4,026.00
- Target 1
- 4,083.00
- Target 2
- 4,101.00
Invalidation: H1 close below 4028 (today's low) cancels the buy
Watch out
- Short-term overbought: M1 RSI 74-80 and M5 RSI 67 at the M15 upper band
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