Forex Gold Trading by Shenron

A solid reaction from JPY, but it does not override the underlying facts

Additional note: for those who have asked about the indicator I use via private message, you can download it here for free for the first 50 tokens. Enjoy!

Gold Analysis (Sell Setup):
Gold is continuing to respect the resistance zone around 4726–4727 after failing to maintain bullish momentum.
The market structure is showing lower highs and weak buying pressure, which suggests a potential continuation to the downside.
Sell Idea:
Entry: 4726
SL: 4740
TP: 4695
The previous support area is now acting as resistance, and price is reacting well from this zone.
If sellers remain in control, we could see further downside movement toward the lower liquidity area.
Let’s see how price reacts.

Gold Analysis (Buy Scenario):
The chart is showing a potential bullish setup after price reacted strongly from the support zone around 4689.
As illustrated in the diagram, I expect the market to make one more pullback into the buy zone before continuing higher toward the resistance area.
Buy Idea:
Buy Zone: 4689–4692
SL: Below 4680
Targets: 4707 first target, 4717 extended target
The support area is holding well, and the market structure is beginning to form higher lows. If buyers maintain control from this zone, we could see a strong bullish continuation.
Diagram expectation:

1. Pullback into support
2. Strong buyer reaction
3. Break toward upper resistance levels

Let’s see how price reacts around the support zone.