On the 1H timeframe, Gold is trading inside a clear range between resistance at 4,371 and support at 4,300. I am watching multiple scenarios based on price reaction at these levels.

Key Levels:

Resistance: 4,371.49 – 4,442.09

Support: 4,300.25 – 4,230.01

Current Price: near 4,341 (mid-range)

Scenario 1 – Bullish from Support:

If price drops to support at 4,300.25 and shows bullish confirmation on a lower timeframe, I will look for long entries.

Entry: From support zone after confirmation

Stop Loss: Below 4,280

Target 1: 4,371.49

Target 2: 4,442.09 (if resistance breaks)

Invalidation: Price closes below 4,280

Scenario 2 – Bearish Breakdown:

If price breaks below support at 4,300.25 with a confirmed close, wait for a pullback to the broken level as resistance. After bearish confirmation, enter short.

Entry: On pullback to 4,300.25 after confirmation

Stop Loss: Above 4,330

Target: 4,230.01

Invalidation: Price closes back above 4,300.25

Scenario 3 – Bullish Breakout:

If price breaks above resistance at 4,371.49 with a confirmed close, I expect continuation up to 4,442.09.

Entry: Above 4,371.49 after confirmation (or on pullback)

Stop Loss: Below 4,330

Target: 4,442.09

Invalidation: Price closes back below 4,371.49

Pro Tips:

1. Do not trade in the middle of the range. Wait for price to reach key levels.

2. Always wait for confirmation on lower timeframes.

3. A breakout above 4,371 could open the door to 4,442.

4. A breakdown below 4,300 could send price to 4,230.

5. Patience is key.

My Personal View:

I am watching 4,300 support for a potential long and 4,371 resistance for a potential breakout or rejection. If price breaks below 4,300 with confirmation, I will look for shorts to 4,230. Let price come to the levels first.

Not financial advice. Trade at your own risk.

Tags: XAUUSD, Gold, Range, Breakout, Pullback, SupportAndResistance, PriceAction, TradingView