Daily OutlookXAUUSD
# Gold Daily Outlook: Tue 27 Oct
Bias: ⚪ Range-bound between 3,993.506 and 4,025.926. Price is testing the top now.
The picture
Since 23 Oct, gold has been rotating inside a clean H1 range. Every drop into the 3,993.506 demand zone has been bought, and every push into the 4,025.926 supply zone has been sold. This morning's dip tagged demand again and rallied straight back into supply. Price sits at the range high now, so this is a decision point, not a place to chase.
Key levels
| Type | Price | Note |
|---|---|---|
| 🔴 Resistance | 4,034.066 | Range wick highs, breakout trigger |
| 🔴 Resistance | 4,025.926 | Supply zone, range top |
| 🟢 Support | 3,993.506 | Demand zone, range bottom |
| 🟢 Support | 3,977.647 | Sweep lows from 25 Oct |
Scenarios
| Scenario | Trigger | Target |
|---|---|---|
| 🟢 Breakout | H1 close and hold above 4,034.066 | Continuation higher, retest 4,034.066 as support |
| 🔴 Rejection | Bearish H1 close back inside the supply zone | 3,993.506 |
Plan
- No longs into supply. Price is at the top of the range.
- Rejection: look for an M15 break of structure down from the 4,025.926 zone and target the range bottom.
- Breakout: wait for an H1 close above 4,034.066, then buy the retest, not the breakout candle.
- No new trades 30 minutes either side of high-impact US news.
Invalidation: an H1 close above 4,034.066 ends the range and kills the short idea. An H1 close below 3,977.647 flips the bias bearish.
The author may hold positions in this instrument. Not financial advice. Disclosures