📊 Market Snapshot
Gold is trading around $3,658–$3,660, after a high near $3,710 and a sharp selloff. Price is currently consolidating inside the Asian range after sweeping liquidity below $3,650.
Key Levels:
- Resistance: $3,685–$3,695 🟠
- Support: $3,645–$3,650 🔵
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🏛 Smart Money Structure
- The $3,710 spike looks like a liquidity grab above prior highs.
- Market has shifted lower, showing bearish order flow.
- Current structure is leaning towards a lower high formation under $3,690.
⏰ Session Outlook
- Asian session → Range-bound chop between $3,655–$3,665.
- London session → Potential retrace higher to fill imbalance near $3,680–$3,685.
- New York session → Watch for continuation sell setups if $3,690 holds as resistance.
🌍 Market Drivers & News Outlook
- Traders eyeing US Dollar strength 📈 after strong Treasury yields.
- Upcoming US data may inject volatility – especially jobless claims later today.
- Safe-haven demand could reappear if equities sell off.
🎯 Trade Plans
- Sell Setup (Preferred) 🔻
- Retrace to $3,680–$3,690 supply zone
- Target → $3,650 first, extended $3,635 liquidity
- Buy Setup (Countertrend) 🔼
- Hold above $3,655 support
- Target → $3,680–$3,685 fill
🧭 Final Bias – ICT Narrative
Gold remains bearish after manipulation at $3,710 🚨. Expect retracement moves into $3,680–$3,690 supply, then continuation downside towards $3,650 liquidity.
Bias: Sell the rallies 🔻
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by ugyen dorji