Here's a structured breakdown of today's #XAUUSD (Gold) trading idea, including key levels, wave structure, and risk/reward zones for both short-term and swing traders.
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🔹 Key Technical Zones (H1 & H4 Charts)
Support Levels
- 3,303 USD – Key support on H4; potential false breakout area
- 3,324–3,327 USD – Wave 5 completion zone and high-probability buy area
- 3,337–3,343 USD – Entry zone for early bullish setups
- 3,340–3,345 USD – Clean long entry; targeting up to 3,450 USD
Resistance Levels
- 3,363–3,365 USD – Sell zone tied to wave 4/5 overlap
- 3,375–3,383 USD – Mid-range resistance; key for short-term profits
- 3,405–3,500 USD – Long-term bullish targets; includes ATH region
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🔹 Wave Count (H1 Structure)
- Wave X – Recent sell-off ended a potential uptrend; suggests ongoing correction (WXY)
- Wave Y – 5-wave drop toward 3,363–3,365 USD; acting as a short-term sell zone
- Wave Z – Expected final leg down toward 3,324–3,327 USD (ideal buy zone)
- Retracement Setup – Anticipated bullish retrace post-wave 5, with targets back at 3,363–3,376 USD
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🔹 Order Blocks & FVGs
Buy Zones
- 3,343–3,330 USD – FVG within an order block; strong bullish entry area
- 3,319–3,317 USD – Deep support with short-term target at 3,349 USD
Sell Zone
- 3,363–3,365 USD – Key area for short setups, with targets at 3,342–3,330 USD
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🔹 Strategy & Key Takeaways
1. Bullish Structure Still Intact
- Rising channel remains valid on H4
- Holding 3,303 USD is critical for confirming bullish continuation
2. Trade Setup
- Long entries near 3,340–3,345 USD
- Target range: 3,450 USD and above
- Tight stops around 3,325 USD recommended for low-risk exposure
3. Wave Completion Zones in Play
- Monitor 3,324–3,327 USD (buy zone) and 3,363–3,365 USD (sell zone) for end-of-wave activity
4. Risk Management Is Key
- Scale into positions
- Respect intraday volatility and breakout traps
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🔹 Key Technical Zones (H1 & H4 Charts)
Support Levels
- 3,303 USD – Key support on H4; potential false breakout area
- 3,324–3,327 USD – Wave 5 completion zone and high-probability buy area
- 3,337–3,343 USD – Entry zone for early bullish setups
- 3,340–3,345 USD – Clean long entry; targeting up to 3,450 USD
Resistance Levels
- 3,363–3,365 USD – Sell zone tied to wave 4/5 overlap
- 3,375–3,383 USD – Mid-range resistance; key for short-term profits
- 3,405–3,500 USD – Long-term bullish targets; includes ATH region
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🔹 Wave Count (H1 Structure)
- Wave X – Recent sell-off ended a potential uptrend; suggests ongoing correction (WXY)
- Wave Y – 5-wave drop toward 3,363–3,365 USD; acting as a short-term sell zone
- Wave Z – Expected final leg down toward 3,324–3,327 USD (ideal buy zone)
- Retracement Setup – Anticipated bullish retrace post-wave 5, with targets back at 3,363–3,376 USD
---
🔹 Order Blocks & FVGs
Buy Zones
- 3,343–3,330 USD – FVG within an order block; strong bullish entry area
- 3,319–3,317 USD – Deep support with short-term target at 3,349 USD
Sell Zone
- 3,363–3,365 USD – Key area for short setups, with targets at 3,342–3,330 USD
---
🔹 Strategy & Key Takeaways
1. Bullish Structure Still Intact
- Rising channel remains valid on H4
- Holding 3,303 USD is critical for confirming bullish continuation
2. Trade Setup
- Long entries near 3,340–3,345 USD
- Target range: 3,450 USD and above
- Tight stops around 3,325 USD recommended for low-risk exposure
3. Wave Completion Zones in Play
- Monitor 3,324–3,327 USD (buy zone) and 3,363–3,365 USD (sell zone) for end-of-wave activity
4. Risk Management Is Key
- Scale into positions
- Respect intraday volatility and breakout traps
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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.
Related publications
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.