Scalping the Golden Zone As expected, we capitalized on the key support zone, securing an additional 100-120 pips on a quick long scalp. These fast-moving plays continue to deliver solid returns!
What’s Next for Gold?
Strong Support Zone Identified – Price has reached a critical demand area, signaling a potential short-term pullback. 1H Order Block Retest – We anticipate a retracement or a possible tag-in before further movement. Risk-Reward Setup – A well-structured long entry from this zone could yield another profitable trade when markets open Monday. Major Resistance in Place – Despite a bounce, selling pressure remains strong, and Friday’s momentum suggests further downside in the near term.
Trading Plan: Look for long setups at the identified support with a tight SL & proper R:R. Keep an eye on the 1H bearish price action for confirmation of a continued move down. If resistance holds firm, we could see another strong sell-off later in the week.