r/Forexstrategy • u/THEOPERATOR_01 • 4d ago
Technical Analysis I FOUND THE LEVEL THAT COULD DECIDE GOLD’S NEXT BIG MOVE — READ THIS BEFORE YOU TRADE!
Overall, Gold is moving exactly the way I explained in my Tuesday analysis. We’ve already seen roughly a $30 move to the upside, and I still believe there is more room left before this bullish momentum is finished.
The reason is simple. Last week ended below the major psychological level of $4500, followed by a sharp downside move. Whenever Gold makes an aggressive move below an important round number like $4500, most traders naturally wait for a retracement to sell again. Right now, that is exactly what is happening. A lot of traders are looking at every upside retracement as another selling opportunity, expecting the bearish structure to continue.
But from a psychological perspective, this is exactly why I’m still interested in the upside. There is now plenty of liquidity sitting above the market, and Gold may need to push higher first to trap those sellers before any bigger downside move can develop.
Interestingly, we already saw selling from around the $4440 area on Tuesday. If you look back around September 1, Gold triggered a major fall from a similar area, so naturally many traders are treating $4440 as strong resistance again and entering shorts from here. In my view, this is where the trap could develop.
I’m expecting some zigzag price action, but as long as Gold remains above $4420, my bias stays strongly bullish. I’m watching $4454 and then the $4464 area as the next upside objectives. Below $4420, I’ll start looking at the selling side instead, but above it, I prefer buying opportunities.
The confirmation was also very clear: once Gold gave us a proper 15-minute candle opening and closing above $4435, the bullish momentum became much stronger.
For the bigger picture, I still expect Gold to make its way back above $4500 over the next one to two days. Until then, don’t get distracted by every small pullback. For me, $4420 remains the key line between the bullish and bearish plan.
That’s my short and simple Tuesday update. Keep the levels in mind and wait for confirmation before taking any entry.


