This chart shows a potential scalping buy setup on the 15-minute XAUUSD chart. After a strong bearish drop, price found support near the 3,220 level, forming a bullish rejection with increasing volume—an early sign of buyers stepping in. The RSI is recovering from oversold levels, suggesting room for upward movement. The marked red zone around 3,270 represents a likely resistance or supply area, where price may face selling pressure again. A short-term buy could be considered as price pushes up from the current level, targeting the red zone for a quick profit. This setup anticipates a bounce toward resistance before a potential reversal or continuation of the larger downtrend.
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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.