Gold Futures Update – 0.5 Fib Stop Hit, Eyes on 0.618 Confluence

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Gold Futures Update – 0.5 Fib Stop Hit, Eyes on 0.618 Confluence

Our initial long setup at the 0.5 Fibonacci retracement level has been stopped out, but the structure remains constructive.

Price is now approaching a key confluence zone at $3,336, where:

• The 0.618 fib retracement from the recent swing low to high aligns perfectly,
  
• The ascending trendline support (respected multiple times since May) intersects, and
  
• The oint of Control (POC) from the visible volume profile shows dominant volume transacted.
  

This area represents a high-probability support level where bulls may attempt to defend again. We’re monitoring for reaction and potential entry signals around this level. A break below would invalidate the rising wedge structure and shift bias toward lower fib extensions.

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Giao dịch đang hoạt động

Entry at 3344

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Đóng lệnh: dừng lỗ

Early entry. Stoploss hit. We all have bad days. I'll see you guys next week with better setups.