Tuesday 10.03.2026 Gold Recap

Previous Session Recap

1. At the market open, price continued the bullish structure from the previous session by forming a higher high and higher low, confirming bullish momentum and continuation of the uptrend.
   

2. During the morning Asian session, price retraced to retest the previous higher low, where a double bottom formed. This level acted as support and triggered the next bullish rally upward.
   

3. At the daily high, price formed a double top, signalling buyer exhaustion and weakening bullish momentum. Following the double top, price is likely to retrace to retest the previous resistance level (now acting as potential support) that was formed during the market open.

   
   

4. A minor bullish structure formed, producing short-term higher highs and higher lows. However, the move appeared corrective in nature rather than a strong continuation, suggesting limited bullish momentum.

   
   

   During the pre-London session, price gradually pushed higher, trading toward the daily high, likely targeting liquidity resting above that level ahead of the London open.

   
   

London Open Trade Analysis

London Session Trade Review (5-Minute Chart)

Candle 1

The first 5-minute London open candle closed bearish, rejecting the previous daily 5-minute resistance level. A sell was taken on Candle 2, with the stop loss placed above Candle 2’s high at the time. The trade was stopped out. In hindsight, this was a poor trade decision, as the overall analysis suggested price was likely to retest the daily highs, making a short position misaligned with the broader bias.

Candle 2

Candle 2 closed as a strong bullish engulfing candle, but it failed to close above the daily resistance level. Buying directly into resistance is generally not ideal, so the plan was to wait for either a confirmed breakout or a pullback before considering long opportunities.

Candle 3

Candle 3 attempted to push higher but failed to break Candle 1’s high and ultimately closed bearish.

Candle 4

Candle 4 formed a doji, signalling market indecision, especially as price was trading between a 5-minute resistance and support level.

Candle 5

Price retested the 5-minute support level formed by Candles 1 and 2. The candle closed with a long lower wick and a weak bearish body, suggesting seller exhaustion and increasing probability that buyers may regain control.

A buy position was taken at the close of this candle, with the stop loss placed below the candle’s low.

Candle 7

Price broke the daily high, confirming bullish momentum. The stop loss was moved to break even, making the trade risk-free.

Candle 9

Candle 9 closed with a long upper wick and small bearish body, indicating that buyers were beginning to lose momentum. The stop loss was trailed to below Candle 9’s low to protect profits.

Candle 11

Candle 11 triggered the trailing stop loss, closing the trade at approximately 3:1 risk-to-reward. This trade recovered the earlier losing trade and ended the session in profit.