Dear traders,

Last time I shared with you my thoughts on Gold.

It has since then followed my Scenario 1 and gone down to re-test the micro demand zone.

Currently, it is still holding in the same level, probably waiting for buyers or sellers to propel it higher or lower.

If I were forced to pick a direction, I’d lean bullish over bearish.

But again, I will ideally like to see a confirmation from the daily and a 4H double-confirmation.

Until then, I will stick with what the US indices are offering.

Let’s see what we’ve got for today.

NASDAQ Trading Analysis 01.08.2025

I am looking at the price on NAS and it looks like we might be heading to the next demand zone.

There was a bearish engulfing pattern on the daily.

Today, we took a NAS day trade, which materialised into a 1:11 RR trade.

This one:

That was just a short-term trade.

What I’m focusing on now is a longer-term swing setup.

Here’s what I’ll be watching for:

The price is already making a new low.

For me to feel more sure, I will wait for a small retracement and then a 4H bearish confirmation.

Here is what I will be looking for.

Here is the 4H chart:

Ideally, I would like to see an inverted pin bar or a bearish engulfing pattern on the 4H chart around this zone.

If this happens, I will possibly be looking to go short at this level.

Until then, I will be patiently waiting.

Happy Friday,

Atanas