Gold Trading Scenario – Start of the Week

Gold Trading Scenario – Start of the Week

Hello traders,

A new week begins with gold holding steady above the 34xx zone, establishing a fresh value area. The current structure has already broken through key resistance levels on the higher timeframe – including the daily trendline and H4 barriers – confirming strong bullish momentum.

The rally played out exactly as expected, reaching the target around 3450 (with a high of 3454). Price is now showing a slight pullback. This will only be seen as a trend reversal if price breaks below 3404. Otherwise, it’s simply a secondary correction in line with Dow Theory.

Wave 5 may have already completed, but the ABC structure is not yet clear. For that reason, I continue to favour buying in line with the trend to maintain higher probability setups.

Buy zone for today: 3408–3412. This area previously acted as resistance, but was broken on Friday and now serves as a solid support region.

This is my medium-term outlook for gold at the start of the week. Take it as reference, and feel free to share your thoughts in the comments so we can discuss further.