The price has corrected as expected. Waiting for an entry.

The Asian market opened on Monday in perfect agreement with weekend analysis, with prices experiencing resistance at 4275 before correcting. Gold is expected to remain range-bound in the short term, with bulls poised for a correction. The Asian market opened with a continued rebound before a correction, reaching a low of 4220 as an entry point.

Short-term trading should continue within the 4220-4280 range. The recent bullish momentum showed signs of weakness last Friday. With a bullish strategy, wait for a breakout before entering the market.

Based on the 4-hour market, the immediate resistance level is currently at 4280-4290. A breakout is expected at 4315-4325. If bulls fail to achieve a sustained breakout, a period of volatile correction is imminent. Given the market volatility, Quaid recommends caution in chasing orders and patiently waiting for key entry points.

Trading Strategy:

Short with a small position when the price first reaches 4280-4290, with a stop-loss at 4305 and a profit zone at 4220.

Go long on a pullback to 4200-4205, add to your position at 4185-4295, stop loss at 4175, target at 4275-4280-4300.

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