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Gold – Daily Plan
Is Wave B over?
→Not yet confirmed.
Macro factors and market sentiment
Negotiations between the United States and Iran were canceled. Geopolitical risks remain, but not enough to trigger a new rebound.
The golden trading session was relatively calm, failing to break through the pivot point near 5100, and fell slightly during the US session.
The daily candle closes in a spinning top pattern, reflecting a state of hesitation, volatility, and lack of momentum needed to break out.
👉 Macro factors support prices but won’t drive an immediate upward trend.
Technical architecture and vision
The price is still moving within a descending channel.
On the hourly chart (H1), the price was able to break above the 4,888 pivot level, indicating a technical rebound.
However, on the larger time frames, the overall structure remains bearish and there is no confirmation of a trend reversal.
→ Therefore, the current high is considered a correction (pullback) in a downtrend.
importance level
Support: 4,810 | 4,830 | 4,830 4,700–4,750 | 4,650–4,624
Resistance: 4,950–5,000 | 5,100 people
Daily trading scenarios
Key strategy: Sell on rebound within a descending channel.
Look for selling opportunities near resistance areas to form lower lows.
If the 4,882-4,890 area is clearly broken down and the H2 or H4 frame is confirmed, you can consider taking advantage of the trend to sell with a target around 4,810.
As long as the price is moving within a descending channel, buy (BUY) is not considered.
👉 Only when price breaks and holds above 5,100 can we start to reassess the buying case based on the trend.
👉 Deeper pullbacks are potential areas for mid-term swing buying, not short-term buying at this time.
Note: The market is going through a “test of confidence” phase. It is better to focus on regional trades, follow trends, reduce contract size and avoid FOMO.
