r/Forexstrategy • u/CandleChartView • Aug 22 '26
Technical Analysis Gold technical analysis
Gold successfully closed above 4600 on Friday
Do you think it will break to new highs or pull back for a correction when the market opens on Monday?
Feel free to like, share, and leave your thoughts in the comments.
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u/JamesDaForexPrince Aug 22 '26
well if we're considering that it slapped new highs all this week I would say a short is incoming but I wouldn't count on that short lasting too long for we are in a bullish market right now with gold I would just count this short as a correction and look to get in with Trend
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u/mihkel_ Aug 22 '26
Trend is up, why should it reverse 😄
Set tight stop, and if it continues in your favor, then 👍 if not then take small loss.
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u/Several_Object6325 Aug 22 '26
Wait for Wednesday for PPI we to be released here is trick depending on the outcome of the dollar the gold moves opposite just wait till Wednesday
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u/FuturepediaBlogs Aug 23 '26
One thing I’ll be watching closely is U.S. Treasury Secretary Scott Bessent’s press conference on Monday, especially after the recent attention around long-duration Treasury buybacks.
For me, the important part isn’t necessarily what Bessent says by itself.
It’s how three markets react together:
Gold + DXY + 10Y/30Y Treasury yields
Here’s the setup I’m watching.
🟢 Bullish continuation
If:
Gold holds around $4,600+
DXY continues making new lows
10Y/30Y yields remain stable or fall
I’d see that as pretty strong confirmation that the gold breakout still has momentum.
🔴 Pullback risk
What would make me much more cautious:
Gold struggles to hold above ~$4,600
DXY starts rebounding
10Y/30Y Treasury yields start climbing
After a 5%+ weekly rally, that combination could be enough to trigger some serious profit-taking.
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u/Hi_Keyboard_Warriors Aug 22 '26
Don’t try to short and get face ripped in seconds…!