LONG TERM TO MEDIUM TERM BIAS ON GOLD.GOLD / US DOLLARPYTH:XAUUSDenwemadufranklyn1989Here’s my breakdown of XAU/USD (Gold, Daily timeframe) chart: --- 1. Price Context Current price: $3372.57. The chart shows gold in a strong uptrend from late 2024, but recently it’s been consolidating sideways in a range. Consolidation is happening between $3300 – $3410, which means price is coiling and building liquidity before the next breakout. --- 2. Key Zones Marked on Chart Red Zones (Supply / Sell Areas): 3412 – 3467: A higher supply zone where strong sellers may step in. 3350 – 3412: A nearer supply zone that price has been rejecting multiple times. → These zones are potential short entry areas if price shows weakness after testing them. Blue Zones (Demand / Buy Areas): 3301 – 3310: Closest demand zone, currently acting as support. 3191 – 3135: Mid-level demand zone, stronger if the first support fails. 2970 – 3025: Deep demand zone, major swing support where large buyers may step in. → These zones are possible long entry areas if price dips into them. --- 3. Market Structure Price is ranging with repeated rejection at $3410–$3420 (resistance). Support is firm at $3300. A breakout either side will likely lead to a strong trend continuation: Break above $3412 → rally toward $3467 and beyond. Break below $3300 → drop toward $3190 and possibly $2970. --- 4. Trading Bias Since gold has been in a macro uptrend, the overall bias is still bullish. However, near-term, this sideways range shows accumulation/distribution—meaning institutions may be building positions before the next move. Strategy outlook: Aggressive sellers: Can short inside 3410–3467 with stop above 3470, target 3300. Buyers: Better to wait for a dip into 3300 or 3190 demand zones for safer long entries, with targets back toward 3410 and 3467. --- ✅ In short: Immediate bias = Neutral / Range-bound (3300–3412). Bigger picture bias = Bullish unless 3300 and 3190 break cleanly. Watch for liquidity grab (false breakout) around 3412 or 3300 before the real move.