Gold GC1! week of 11-02: wait for the retest at 3,946–3,975Gold FuturesCOMEX:GC1!mlc82Gold futures are down three weeks in a row. On Friday they broke two support zones in one session. Here's the plan, and the trade I'm not taking. WHAT THE CHART SHOWS • Last week: high 4,097.2 (Wednesday), low 3,879.3 (Friday), settle 3,898.9. • Friday at the New York open, gold fell from about 3,956 to 3,900.9 in one hour, on the heaviest volume of the day. • That broke last week's demand zone (3,955–3,994) and the October 2025 low (3,901.3). • The next daily demand is the late-September to early-October 2025 base, 3,821–3,864. THE SETUP I'M WATCHING (short, with the trend) • Zone: 3,946–3,975. That's where Friday's drop started, between the London low and the New York breakdown. • Trigger: a rejection at the zone, confirmed on a closed 15-minute candle. If there's no signal, there's no trade. • Example: entry 3,950, stop 3,978, target 3,879.3 (last week's low). That's about 2.5 to 1. • If the stop needs to be wider than about 35 points, the trade drops under 2 to 1, and I skip it. • Cancel: a 4-hour close above 3,975. THE TRADE I'M SKIPPING Shorting a break below 3,879 looks tempting. But demand starts at 3,864, only about 15 points lower. A normal stop can't get 2 to 1 in that space. THE OTHER SIDE • A sweep into 3,821–3,864, then a 30-minute close back above 3,864, would set up a countertrend long toward 3,946. That's smaller size only. • Between 3,879 and 3,946, there's no edge. Stand aside. CALENDAR (Pacific time) • Sunday open: 3:00 PM. • Tuesday: Election Day. • Friday: jobs report, 5:30 AM. Levels come from TradingView GC1! bars. Last week's close is the CME settlement. The volume profile uses 30-minute volume with a 70% value area. Education only, not financial advice. Futures carry substantial risk of loss.