Gold after the Fed: a $58 whipsaw, then Thu 29 Oct levelsGold - CashCMCMARKETS:GOLDRealMichaelNeoEVENING REVIEW · Wednesday 28 October · FOMC The Fed held rates at 3.75–4.00%, as expected. The vote was 10–2: Cook and Hammack wanted a hike, and the statement upgraded growth from "solid" to "strong". December is still open. This morning's map said: no entries into the decision, wait for the H1 close after the press conference, and Fed days often run one way, then turn. That's exactly what happened. Pivot (4038): the first move after the decision was down. Sellers took price $13 through the pivot to 4025. S1 at 4009 wasn't reached. R1 (4068): the press conference turned it. Buyers took price from 4025 straight through R1 to 4083, a $58 swing in under an hour. The pre-Fed map's upside target was 4086–4093, R2 and the top of the average daily range: price stopped $3 short. The H1 couldn't hold above R1, and gold closed the day at 4067, right back on R1. The day's play: none, by design. There were no entries into the decision, and after the press conference the break above R1 didn't hold on the close. Sitting out a $58 whipsaw is the plan working. For swing traders: Tuesday and Wednesday together have taken gold from 3989 to 4083. It's still well below the 4220 line, so the swing view still leans bearish, but the low end of the month is being defended. THROUGH THE NIGHT · Thursday 29 October Fresh levels for Thursday (from Wednesday's high, low and close): R3 4116 R2 4094 R1 4081 Pivot 4058 S1 4036 S2 4023 S3 4001 Where price sits: gold is at 4059, sitting on the pivot, $22 under R1. Bias: Higher above the pivot. The pivot is the decision zone. • Break: if the H1 closes above R1 and the retest holds, the path is to R2 at 4094, through Wednesday's high at 4083. • Hold: if the pivot holds as support, it's a range day between 4058 and 4081 until the data. • Pivot breaks: an H1 close below it opens S1 at 4036, then S2 at 4023. Day's width: S1 to R1 is $45 and S3 to R3 is $115. It's a normal day, so there are no S3/R3 first-touch plays. Tomorrow is the second big day: 12:30 US GDP and core PCE, with jobless claims, then the ECB at 13:15 and its press conference at 13:45. Treat 12:30–14:00 as one event. No entries in the minutes before 12:30, and let the 13:00 and 14:00 H1 candles close before trusting a level. Levels published before the move. Distances are gross, before costs. Education, not advice.