Summary
Gold slips to 3965, testing the June-July 3942-3965 floor
Gold fell to 3964.9 today, its lowest since July, right above the 3942-3965 zone that held four times in June-July. M15 to D1 all sit below Tenkan/Kijun (D1 MACD -58.4 < -53.2), so bounces to 3997-4002 favour sells; an H4 close under 3958 opens 3942.
Key levels
- Resistance · Minor4,024.00
- Resistance · Minor4,016.00
- Resistance3,997.00 – 4,002.00
- Resistance · Minor3,988.00
- Now3,980.20
- Support3,959.00 – 3,965.00
- Support · Minor3,953.00
- Support · Minor3,942.00
Timeframes
| Timeframe | Direction | Reading |
|---|---|---|
| D1 | New low since July, near lower bandLow 3964.9 today; below Tenkan 4053.6 and Kijun 4096.5; BB lower 3952.9; MACD -58.4 < signal -53.2; RSI18 36.0RSI(18) 36.0MACD -58.35 / -53.25Tenkan 4053.64BB lower 3952.92 | Low 3964.9 today; below Tenkan 4053.6 and Kijun 4096.5; BB lower 3952.9; MACD -58.4 < signal -53.2; RSI18 36.0RSI(18) 36.0MACD -58.35 / -53.25Tenkan 4053.64BB lower 3952.92 |
| H4 | Below Tenkan/Kijun, riding lower bandBelow Tenkan 4016.9 / Kijun 4024.0 and the cloud; BB lower 3973.7; MACD -14.9 < signal -7.2; RSI18 35.8RSI(18) 35.8MACD -14.89 / -7.16Kijun 4023.96BB lower 3973.66 | Below Tenkan 4016.9 / Kijun 4024.0 and the cloud; BB lower 3973.7; MACD -14.9 < signal -7.2; RSI18 35.8RSI(18) 35.8MACD -14.89 / -7.16Kijun 4023.96BB lower 3973.66 |
| H1 | Bounce to 3999 sold, back under Tenkan08:00 bounce topped at 3999.4 under Kijun 4002.2; now below Tenkan 3988.3; MACD -12.3 < signal -11.3; RSI18 37.9RSI(18) 37.9MACD -12.32 / -11.34Kijun 4002.19BB 3971.35 - 4031.91 | 08:00 bounce topped at 3999.4 under Kijun 4002.2; now below Tenkan 3988.3; MACD -12.3 < signal -11.3; RSI18 37.9RSI(18) 37.9MACD -12.32 / -11.34Kijun 4002.19BB 3971.35 - 4031.91 |
| M15 | Flat 3974-3982 under Tenkan/KijunRange 3973.8-3981.9 below Tenkan 3986.3 / Kijun 3988.3; BB 3974.5-3996.4; MACD -4.04 < signal -3.35; RSI18 41.5RSI(18) 41.5Kijun 3988.30BB lower 3974.52 | Range 3973.8-3981.9 below Tenkan 3986.3 / Kijun 3988.3; BB 3974.5-3996.4; MACD -4.04 < signal -3.35; RSI18 41.5RSI(18) 41.5Kijun 3988.30BB lower 3974.52 |
Trade plan
- SellPrimarySell the bounce to 3997-4002
Trigger: Price bounces into 3997-4002 (H1 Kijun, this morning's 3999 high) and an M15 or H1 candle closes back below 3995
- Entry
- 3,997.00 – 4,002.00
- Stop loss
- 4,019.00
- Target 1
- 3,966.00
- Target 2
- 3,945.00
Invalidation: H1 close above 4019 (above H4 Tenkan 4016.9) cancels the sell
- SellBreakoutSell the break below 3958
Trigger: H4 closes below 3958 (today's 3964.9 low and the July 3959.4 low), then a retest of 3962-3968 holds
- Entry
- 3,962.00 – 3,968.00
- Stop loss
- 3,984.00
- Target 1
- 3,942.00
- Target 2
- 3,920.00
Invalidation: H1 close back above 3984 cancels the breakout sell
Watch out
- 3942-3965 stopped the fall four times in June-July and H4 RSI is 35.8: selling right above it, without a bounce or a clean H4 break, risks a sharp short squeeze
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