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Gold remains in a clear ascending channel. After experiencing a strong impulse move, price is now going through a technical correction/rebalancing phase, which is normal behavior in a healthy uptrend.
From a fundamental perspective, the dovish expectations of the Federal Reserve continue to support gold prices, making the decline in gold prices corrective rather than reversing the trend.
From a fundamental perspective, the dovish expectations of the Federal Reserve continue to support gold prices, making the decline in gold prices corrective rather than reversing the trend.
Technical structure (short term)
The bull market structure remains the same (higher highs – higher lows)
The current pullback occurs within the opponent zone of the ascending channel
The current bearish structure has not yet confirmed a breakout
Bullish liquidity remains above recent highs
Trading Plan – MMF Method
Basic scenario – buy with the trend
Preferred buying areas: 4,303 – 4,320
Condition: Price remains above support and maintains HL structure
Target:
TP1: 4,335
TP2: 4,345
TP3: 4,359 (buyer liquidity)
alternative
If the price does not pull back sharply and breaks $4,335, wait for a thorough retest before continuing to buy.
Neutralize
A first-half close below 4,280 would invalidate the short-term bullish bias and cancel a buy setup.
generalize
The short-term bias for gold remains bullish.
The priority remains to buy on pullbacks within the channel, avoiding the fear of missing out on higher prices and waiting for price to return to key liquidity areas.
