Usama_Bh
Usama_Bh 4 giờ trước
We have here a structural level at 3578 in green colour.
GOLD is in a bullish structure.
Now in the current situation, the market is at its resistance level or what we can call Equal Highs, and we can see rejection from this resistance zone.

Now how will the market move this coming week?

As I mentioned, we have a structural level at 3578 in green colour, and with this we can also see an imbalance level (marked in grey colour with an arrow “IMB”).
This imbalance aligns perfectly with the structural level.

If we apply Fibonacci from the low 3511 to the high 3675, we can see the important golden levels — 50%, 61.8%, and 78.6% (marked in blue).
But we cannot trade blindly on all these levels. We need to find a perfect zone to trade.
Remember: when something is expensive, we wait for the price to come down. In this case, GOLD is at a high price, so we need to wait for retracement.

I will wait for my discounted zone. You can see I marked it in green between 3561–3544. This is our discounted zone.
Before reaching this zone, we also have a strong imbalance level, so I will wait for price to enter the discounted zone.

You can also see the orange zones, which are range zones. The market has already started breaking out of these ranges to the downside, so it’s possible the market will move down to the 1st target at 3612 and the 2nd target at 3579 (purple lines).

Now, for this coming week, the best buying zones are:

First buying zone: 3592–3579 (blue zone), which aligns with structure and the 61.8% Fib golden level.

Discounted zone: 3561–3544 (green zone). From this zone, we could see GOLD making a new high at 3700. Personally, I will wait for the discounted zone.

There is also a possibility that when the market opens, price will first move up to sweep the Equal Highs, and then start moving down toward the discounted zone.
Let’s see if the market comes to the discounted zone or not.

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