GOLD IS TESTING $4,103 AGAIN — BREAKDOWN OR BOUNCE
Gold is around $4,120 on the 2H chart after bouncing from the $4,067 low. The structure is still bearish, with lower highs and the descending trendline sitting above price. $4,142 is the first resistance and $4,103 is the key support. Gold is also still facing pressure from elevated yields and expectations of another Fed hike later this year.
The short setup is only there if $4,103 actually breaks. I want a 2H close below $4,103, then a retest of $4,103 from underneath and rejection.
Short entry: $4,095–$4,103
SL: $4,142
TP1: $4,067
TP2: $4,032
TP3: $4,000
If $4,103 breaks but price immediately reclaims it, no short. That would be a failed breakdown.
On the other side, if gold reclaims $4,142 and holds the retest, the short setup is off. That opens $4,184 first and then $4,225.
So the trade map is simple:
$4,103 break + failed retest → SHORT → $4,067 / $4,032 / $4,000
$4,142 reclaim + retest → bearish setup invalid → $4,184 / $4,225
At $4,120, there is no reason to chase either side. The trade comes after confirmation.
$GOLD.US $XAUT
#XAU
Gold is around $4,120 on the 2H chart after bouncing from the $4,067 low. The structure is still bearish, with lower highs and the descending trendline sitting above price. $4,142 is the first resistance and $4,103 is the key support. Gold is also still facing pressure from elevated yields and expectations of another Fed hike later this year.
The short setup is only there if $4,103 actually breaks. I want a 2H close below $4,103, then a retest of $4,103 from underneath and rejection.
Short entry: $4,095–$4,103
SL: $4,142
TP1: $4,067
TP2: $4,032
TP3: $4,000
If $4,103 breaks but price immediately reclaims it, no short. That would be a failed breakdown.
On the other side, if gold reclaims $4,142 and holds the retest, the short setup is off. That opens $4,184 first and then $4,225.
So the trade map is simple:
$4,103 break + failed retest → SHORT → $4,067 / $4,032 / $4,000
$4,142 reclaim + retest → bearish setup invalid → $4,184 / $4,225
At $4,120, there is no reason to chase either side. The trade comes after confirmation.
$GOLD.US $XAUT
#XAU