u/Gullible_Bother_2206

Gold has been moving inside a very tight and choppy range for the last 2 days. This type of price action usually builds liquidity before a major move.

Right now:

Sellers are expecting another sharp drop

Buyers are expecting a breakout rally

This confusion is exactly where smart money traps retail traders.

If you remember the 23rd-27th April structure, gold consolidated first and then dropped heavily. Many traders are now expecting the same move again. But markets rarely repeat the exact same pattern twice.

MY PERSONAL VIEW:

I am looking for BUYING opportunities on pullbacks.

The most important level right now is:

4734

As long as price stays below 4734, buyers and sellers will continue fighting inside this messy range.

But once gold breaks and sustains above 4734 during the NYC session, we can expect a strong upside rally towards:

4750/4770/4789

4800+ possible if momentum continues

Also, I believe gold is likely to hold above 4660 today, which keeps the bullish structure active for now.

Trading Plan:*

Prefer quick scalping trades in this choppy market

Or wait patiently for a clean

4734 breakout confirmation before entering buys!

Important:

Breakouts after heavy consolidation can sometimes become fake traps. So focus more on booking profits rather than holding positions emotionally.