u/Excellent_One_5614

Gold rejected hard from the weekly high zone and is now struggling below resistance around 4,715–4,750.

Price is holding support near 4,700, but momentum remains weak after the liquidity sweep at the top. The market looks stuck in consolidation ahead of US CPI data.

CPI Impact on Gold:

Lower CPI → weaker USD, bullish for gold

Higher CPI → stronger USD, bearish for gold

A hot CPI print could push gold toward the 4,650 demand zone, while softer inflation may trigger another run at highs.

Big move likely once CPI drops.

Key resistance: 4,764 (valid)

Golden demand zone: 4,602 – 4,633 (FVG + Fib 0.618)

Main Scenario:

Clean correction to 4,610–4,630 → Wave C(2) complete → Strong rally to 4,800 and 4,840

Buy Setup:

Buy 4,610–4,630 + candle confirmation

SL: below 4,580

TP1: 4,764 | TP2: 4,800 | TP3: 4,840

Bias: Strongly Bullish 🚀

I'm gonna win this trade 😉