Gold is showing a clear structural shift after multiple Break of Structure (BOS) confirmations, indicating a transition from consolidation into a trending phase.
After forming a descending channel, price broke out aggressively and created a tight range accumulation zone, signaling indecision before expansion. This range was eventually broken to the upside, leading into a key resistance area.
Currently, price is reacting from this resistance zone, suggesting a potential rejection. If sellers step in, we can expect a move toward the marked target zone around 4422, which aligns with previous structure and liquidity.
Key Confluences:
Multiple BOS confirming market structure shifts
Range formation ā breakout continuation pattern
Strong resistance zone rejection
Clean downside target aligned with structure
Trade Idea:
Look for bearish confirmation near resistance
Target: 4422 zone
Invalidation: Sustained break above resistance
ā ļø Wait for confirmation before entering. Manage risk properly.