Gold on the Verge of a Big Move – Key Level in Focus!
Market Structure:
BOS (Break of Structure) signals have confirmed bullish momentum in prior swings.
Price created a Bullish FVG (Fair Value Gap) around mid-July, which provided demand for the next upward leg.
Consecutive Higher Lows indicate that buyers remain in control.
Key Levels:
Strong Support: $3,260 – A major demand area where buyers have stepped in multiple times.
Resistance Zone: $3,420–$3,440 – This is a significant supply area where price faced rejection earlier.
BOL (Breakout Level) around $3,390 – Price recently tested and is attempting to break above.
Trade Setup Highlighted:
Entry Point: $3,397 (short bias suggested by chart structure at resistance)
Potential Target: $3,370 – aligns with minor liquidity grab and possible retest of broken structure.
Market Logic:
Price is currently testing a resistance level rejection zone.
The expectation in this setup is a short-term pullback to collect liquidity before a possible continuation.
If $3,370 holds, bulls may resume toward the higher resistance zone at $3,420+.
Educational Takeaway:
BOS indicates a shift in control (bearish BOS = sellers taking over; bullish BOS = buyers taking over).
FVG is a gap in price that often acts as a magnet for retracement.
Higher Lows are key signs of a bullish trend.
Support & Resistance act as decision zones where traders can anticipate reversals or breakouts.
📌 Summary:
XAUUSD is in a bullish structure but is currently testing a resistance rejection zone. A short-term retracement to $3,370 is probable before any continuation higher. Swing traders should watch price behavior at support for a potential long continuation setup.
Market Structure:
BOS (Break of Structure) signals have confirmed bullish momentum in prior swings.
Price created a Bullish FVG (Fair Value Gap) around mid-July, which provided demand for the next upward leg.
Consecutive Higher Lows indicate that buyers remain in control.
Key Levels:
Strong Support: $3,260 – A major demand area where buyers have stepped in multiple times.
Resistance Zone: $3,420–$3,440 – This is a significant supply area where price faced rejection earlier.
BOL (Breakout Level) around $3,390 – Price recently tested and is attempting to break above.
Trade Setup Highlighted:
Entry Point: $3,397 (short bias suggested by chart structure at resistance)
Potential Target: $3,370 – aligns with minor liquidity grab and possible retest of broken structure.
Market Logic:
Price is currently testing a resistance level rejection zone.
The expectation in this setup is a short-term pullback to collect liquidity before a possible continuation.
If $3,370 holds, bulls may resume toward the higher resistance zone at $3,420+.
Educational Takeaway:
BOS indicates a shift in control (bearish BOS = sellers taking over; bullish BOS = buyers taking over).
FVG is a gap in price that often acts as a magnet for retracement.
Higher Lows are key signs of a bullish trend.
Support & Resistance act as decision zones where traders can anticipate reversals or breakouts.
📌 Summary:
XAUUSD is in a bullish structure but is currently testing a resistance rejection zone. A short-term retracement to $3,370 is probable before any continuation higher. Swing traders should watch price behavior at support for a potential long continuation setup.
Trade closed: target reached
Gold (XAU/USD) – Target Achieved: Technical Overview
Gold successfully reached our projected target, reflecting the strength of the prior bearish (adjust based on trade direction) setup. Price action respected the key resistance zones and moved in alignment with market structure expectations.
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Disclaimer
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Market Analyst | XAU/USD Focused
Educational Content & Technical Breakdowns Premium
VIP Signals Live trades & strategies shared daily
join our Telegram t.me/Mentor_Michael033
Message Me to Join VIP Mentorship t.me/Mentor_Michael03
Educational Content & Technical Breakdowns Premium
VIP Signals Live trades & strategies shared daily
join our Telegram t.me/Mentor_Michael033
Message Me to Join VIP Mentorship t.me/Mentor_Michael03
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.