Gold price trends ahead of non-farm payrolls data.

1️⃣ Trend/Trend Line

Short-Term Trends: Sideways Movement – ​​Downtrend within a shrinking triangle.

Price is trapped between the falling trendline above (selling pressure) and the rising trendline below (weak support).

Current situation: Technical rebound, but price has not yet broken through the downtrend line ⇒ Uptrend reversal has not yet been confirmed.

2️⃣Resistance

4520 – 4525: Strong resistance

Composition: previous high + 1.618 Fibonacci retracement level + downward trend line

If the price is in a downtrend, sell on the rebound.

3️⃣ Support

4395 – 4400: Main support area

Combination: lowest level of price range + demand area

A clear breakout of this area ⇒ Risk of breaking through the resistance level. Prices may continue to fall.

The fourth situation

Priority: Trade when support/resistance levels are broken.

Bullish scenario: A break above the support/resistance levels and a close above the downtrend line and above 4525 ⇒ paves the way for further gains.

Bearish scenario: Breakout of the support/resistance levels and a close below 4395 ⇒ Confirmation of the continuation of the downtrend; a trend-consistent sell signal is expected.

👈 The market is in the decision-making phase – avoid rushing and wait for clear confirmation of market boundaries.

trading plan

Buy gold: 4398 – 4400

Stop loss: 4388
Take profit: 100 – 300 – 500 points

Sell ​​gold: 4523 – 4525

Stop loss: 4533
Take profit: 100 – 300 – 500 points