XAU/USD (Gold) Bullish Trade Setup – Key Levels & Targets

📊 XAU/USD (Gold vs. USD) - 1H Chart Analysis

🔹 Entry & Risk-Reward Setup
🟢 Buy Zone: $3,015 - $3,017 ✅
🛑 Stop Loss: $3,003.14 ❌ (Protects against downside risk)
🎯 Target Point: $3,045.40 🚀

🔹 Take Profit Levels (TP)
🟡 TP1: $3,021.01 🥇 (First checkpoint)
🟡 TP2: $3,029.73 🥈 (Second target, stronger resistance)
🔵 Final Target: $3,045.40 🏆 (Major resistance level)

🔹 Market Structure & Price Action
📉 Recent Drop: Found support near $3,003 📌
📈 Potential Upside: Price attempting a bullish reversal 📊

⚠️ Watch for breakout at $3,021+ for confirmation! 🚀📊

Trade closed manually

Note

Looks like price action hit TP2! 🎯 From the chart, it seems like a classic breakout and retest setup. The price pushed up, hit the target point (TP2), and respected the stop-loss zone.

Here’s a quick breakdown:

TP1 Hit: Price broke the initial resistance and reached TP1 smoothly.

TP2 Hit: The strong bullish momentum pushed the price to TP2. If someone held their position, they would have caught that move nicely!

Target Point: If the price maintains momentum, it could test the final target at 3,045.30. However, a pullback or consolidation near TP2 is possible.

Stop Loss Zone: The stop-loss placement below the support at 3,003.14 seems logical for risk management.

Do you have a position on this, or just analyzing for learning? 🤔📊

Jameshead007

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Jameshead007

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