Market Snapshot
Gold (XAU/USD) is trading at $3,379.12 after sliding from Friday’s high near $3,396. Price is currently consolidating just above $3,377, sitting under the 9 EMA and 21 EMA crossover. The current intraday structure leans bearish after a series of lower highs since August 9.
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Smart Money Structure
Price action in the Asian session today saw a shallow retrace before dropping to sweep liquidity beneath $3,372.
London session failed to reclaim the $3,384 area (prior key support), signaling supply absorption.
New York AM session has been trading below the daily open ($3,386.30), keeping short-term sentiment negative.
Market structure remains bearish while price holds under $3,384.
Session Outlook
- Asian Session: Mild consolidation, liquidity sweep under $3,372.
- London Session: Rejection from $3,384, continuation lower into Asian lows.
- New York Session Outlook:
- Sustaining under $3,384 keeps the bias toward testing $3,370 and possibly $3,364 liquidity.
- A break and hold above $3,384 could shift bias toward retracing into $3,392–$3,396.
Market Drivers & News Outlook
No major U.S. macro data today, but traders are eyeing tomorrow’s CPI release.
The Dollar Index has firmed slightly, pressuring precious metals.
Today’s sell-off appears liquidity-driven, with smart money using prior session highs as inducement before reversing.
Trade Plans
Scenario 1 – Bearish Continuation:
- Sell below $3,384 retest, aiming for $3,372–$3,364 liquidity.
- Entry trigger: 5m bearish displacement + FVG entry.
- SL: Above $3,386 | TP1: $3,372 | TP2: $3,364.
Scenario 2 – Short-Term Reversal:
- Buy above $3,384 breakout, targeting $3,392–$3,396.
- SL: Below $3,380 | TP1: $3,392 | TP2: $3,396.
Final Bias – ICT Narrative
Gold has shifted into a bearish intraday structure after rejecting the $3,384 supply zone in London session. Unless $3,384 is reclaimed, smart money is likely to seek sell-side liquidity beneath $3,372 and possibly the $3,364 level.

