SMC trading point update
Technical analysis of Gold (XAU/USD) on the 3-hour timeframe, suggesting a long trade idea with a clearly defined support zone and target projection. Here's the detailed breakdown:
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Chart Breakdown (3H - XAU/USD)
1. Support Zone (Yellow Box):
Price reacted strongly to the 3,244–3,300 area, which is identified as a key support level.
This area has historically seen demand and is now acting as a base for potential bullish continuation.
2. Falling Wedge Breakout:
A falling wedge pattern has been broken to the upside, which is typically a bullish reversal signal.
The breakout indicates a shift from the previous bearish momentum into bullish strength.
3. EMA 200 Confirmation:
Price is now above the 200 EMA (3,333.347), supporting a bullish bias.
This can act as dynamic support going forward.
4. RSI Momentum:
RSI at 62.00, indicating growing bullish momentum without being overbought.
The RSI has also broken above a previous local high, confirming strength.
5. Target Projection:
The projected move (blue arrowed box) suggests a potential rally of +105.305 points (3.20%), targeting the 3,394.503 level.
This level aligns with previous price structure and acts as the next major resistance.
6. Anticipated Price Path (Black Zigzag Line):
Price is expected to pull back slightly, retesting the wedge breakout or support zone.
After this retest, a bullish continuation toward the target point is projected.
Mr SMC Trading point
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Summary:
Bias: Bullish
Pattern: Falling wedge breakout + support retest
Entry Zone: Around 3,300–3,320 on a retest
Target: 3,394.503
Invalidation: Strong break and close below 3,244.166
Confirmation: Bullish price action near support + sustained RSI strength
Please support boost 🚀 this analysis)
Technical analysis of Gold (XAU/USD) on the 3-hour timeframe, suggesting a long trade idea with a clearly defined support zone and target projection. Here's the detailed breakdown:
---
Chart Breakdown (3H - XAU/USD)
1. Support Zone (Yellow Box):
Price reacted strongly to the 3,244–3,300 area, which is identified as a key support level.
This area has historically seen demand and is now acting as a base for potential bullish continuation.
2. Falling Wedge Breakout:
A falling wedge pattern has been broken to the upside, which is typically a bullish reversal signal.
The breakout indicates a shift from the previous bearish momentum into bullish strength.
3. EMA 200 Confirmation:
Price is now above the 200 EMA (3,333.347), supporting a bullish bias.
This can act as dynamic support going forward.
4. RSI Momentum:
RSI at 62.00, indicating growing bullish momentum without being overbought.
The RSI has also broken above a previous local high, confirming strength.
5. Target Projection:
The projected move (blue arrowed box) suggests a potential rally of +105.305 points (3.20%), targeting the 3,394.503 level.
This level aligns with previous price structure and acts as the next major resistance.
6. Anticipated Price Path (Black Zigzag Line):
Price is expected to pull back slightly, retesting the wedge breakout or support zone.
After this retest, a bullish continuation toward the target point is projected.
Mr SMC Trading point
---
Summary:
Bias: Bullish
Pattern: Falling wedge breakout + support retest
Entry Zone: Around 3,300–3,320 on a retest
Target: 3,394.503
Invalidation: Strong break and close below 3,244.166
Confirmation: Bullish price action near support + sustained RSI strength
Please support boost 🚀 this analysis)
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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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.