Gold (XAUUSD) – 23 July Analysis
Structure, patience, and precision define today's opportunity
The market remains in a clear uptrend, and the current M15 structure is undergoing a healthy pullback phase following yesterday’s strong bullish breakout. This retracement brings the price into key zones where continuation setups may form — if confirmed.
📊 Market Structure Overview
• Bullish Breakout: On July 22, price made a strong impulsive move upward from the demand base at 3384–3390, confirming bullish strength and shifting short-term structure to the upside.
• Current Pullback: After printing a local high around 3439, the market is retracing toward lower support zones. The pullback is expected and may offer long entries if price respects key areas and confirms.
🔑 Key Reversal Zones to Watch
1. Order Block (OB) Zone
Range: 3417 – 3412
– This zone is the origin of the last bullish impulse.
– Price is nearing this key zone.
– If M1 confirms with internal structure shift + BoS, we may have a valid long setup.
– Target: Previous high at 3438–3440
2. Deeper Demand Zone
Range: 3390 – 3384
– This is the base of the prior impulsive leg.
– If price breaks below the OB with momentum, this deeper zone may act as stronger support.
– Potential swing entry zone with better R:R
📌 Trade Scenarios for Today
🔹 Scenario 1: Rejection from OB Zone (Likely Intraday Setup)
– Wait for M1 to confirm via micro ChoCh + BoS inside 3417–3412 zone.
– If confirmed, plan for long entry with SL below zone.
– Target: 3438–3440
🔹 Scenario 2: Break Below OB → Retest at Deeper Demand Zone
– If OB zone fails, wait for price to drop into 3390–3384.
– Look for M1 confirmation before executing any long position.
– This setup may offer a higher-quality entry with improved R:R.
📈 Trade Plan:
– Wait for confirmation before entry (e.g., M1 structure shift + BoS)
– SL: 40 pips | TP: 120 pips
– Risk-Reward: Always 1:3 minimum
– No confirmation = No trade
🎯 Summary
• Primary Bias: Bullish — monitoring OB zone (3417–3412) for long setup
• Alternative Setup: Buy from 3390–3384 demand if deeper retracement unfolds
• Discipline: Let the market validate your plan. Never force a trade.
📘 Shared by ChartIsMirror
Structure, patience, and precision define today's opportunity
The market remains in a clear uptrend, and the current M15 structure is undergoing a healthy pullback phase following yesterday’s strong bullish breakout. This retracement brings the price into key zones where continuation setups may form — if confirmed.
📊 Market Structure Overview
• Bullish Breakout: On July 22, price made a strong impulsive move upward from the demand base at 3384–3390, confirming bullish strength and shifting short-term structure to the upside.
• Current Pullback: After printing a local high around 3439, the market is retracing toward lower support zones. The pullback is expected and may offer long entries if price respects key areas and confirms.
🔑 Key Reversal Zones to Watch
1. Order Block (OB) Zone
Range: 3417 – 3412
– This zone is the origin of the last bullish impulse.
– Price is nearing this key zone.
– If M1 confirms with internal structure shift + BoS, we may have a valid long setup.
– Target: Previous high at 3438–3440
2. Deeper Demand Zone
Range: 3390 – 3384
– This is the base of the prior impulsive leg.
– If price breaks below the OB with momentum, this deeper zone may act as stronger support.
– Potential swing entry zone with better R:R
📌 Trade Scenarios for Today
🔹 Scenario 1: Rejection from OB Zone (Likely Intraday Setup)
– Wait for M1 to confirm via micro ChoCh + BoS inside 3417–3412 zone.
– If confirmed, plan for long entry with SL below zone.
– Target: 3438–3440
🔹 Scenario 2: Break Below OB → Retest at Deeper Demand Zone
– If OB zone fails, wait for price to drop into 3390–3384.
– Look for M1 confirmation before executing any long position.
– This setup may offer a higher-quality entry with improved R:R.
📈 Trade Plan:
– Wait for confirmation before entry (e.g., M1 structure shift + BoS)
– SL: 40 pips | TP: 120 pips
– Risk-Reward: Always 1:3 minimum
– No confirmation = No trade
🎯 Summary
• Primary Bias: Bullish — monitoring OB zone (3417–3412) for long setup
• Alternative Setup: Buy from 3390–3384 demand if deeper retracement unfolds
• Discipline: Let the market validate your plan. Never force a trade.
📘 Shared by ChartIsMirror
Trade active
📍 Execution Update – Scenario 1 ActivatedAs outlined in the original plan, Scenario 1 has now played out with confirmation:
✅ Price retraced into the Order Block (OB) zone (3417–3412)
✅ M1 structure shifted bullish, showing a clean micro ChoCH
✅ Entry was taken via limit buy order at 3420.275
🔒 Stop Loss: 40 pips
🎯 Take Profit: 120 pips
Risk-Reward: Always 1:3
This setup aligns perfectly with the bullish structure and retracement plan. Now, we simply let the trade execute as planned — structure brings clarity, and discipline brings consistency.
No second-guessing. Trust the process.
📘 Shared by ChartIsMirror
Trade closed: target reached
📍 Gold Trade Update – 23 JulyTarget Hit ✅ | +120 Pips Secured
As per our plan, price respected the OB zone (3417–3412) and gave a clean M1 micro structure shift, triggering our Limit Buy @ 3420.275.
🔹 SL: 40 pips
🔹 TP: 120 pips
🔹 R:R: 1:3
📌 Result: Full target hit – trade closed in profit.
This is a textbook example of structure-based trading with confluence and patience.
Let the market come to your setup. Not the other way around.
📘 Shared by ChartIsMirror
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.