Gold (XAUUSD) has reacted strongly from the 3345–3351 demand zone, indicating that buyers are stepping in with some serious momentum. The wick rejections and bullish engulfing candles point to institutional interest in this area.
Right now, the price is hanging around the mid-level (3357–3358). If this level holds as support, we expect to see a continued push towards the 3370–3376 supply zone, which coincides with a significant resistance level on the 30-minute chart and a potential area for liquidity sweeps.
The route to the supply zone looks technically clear, backed by:
- Reaction from the demand zone
- A bullish internal structure
- Price making higher lows on lower timeframes
🔹Trade Setup (Buy Bias):
- Entry Zone: 3357–3358
- Stop Loss: Below 3345 (to invalidate the demand)
Take Profits:
- TP1: 3370
- TP2: 3376 (upper limit of the supply zone)
⚠️ Notes:
If the price closes below 3345, we’ll shift to a neutral bias.
Make sure to wait for clear bullish confirmation before jumping into any market entries.
📊 Bias: Bullish (Short-term swing towards the supply zone)
Timeframe: 30-minute chart
Market Structure: Bullish after defending the demand
Right now, the price is hanging around the mid-level (3357–3358). If this level holds as support, we expect to see a continued push towards the 3370–3376 supply zone, which coincides with a significant resistance level on the 30-minute chart and a potential area for liquidity sweeps.
The route to the supply zone looks technically clear, backed by:
- Reaction from the demand zone
- A bullish internal structure
- Price making higher lows on lower timeframes
🔹Trade Setup (Buy Bias):
- Entry Zone: 3357–3358
- Stop Loss: Below 3345 (to invalidate the demand)
Take Profits:
- TP1: 3370
- TP2: 3376 (upper limit of the supply zone)
⚠️ Notes:
If the price closes below 3345, we’ll shift to a neutral bias.
Make sure to wait for clear bullish confirmation before jumping into any market entries.
📊 Bias: Bullish (Short-term swing towards the supply zone)
Timeframe: 30-minute chart
Market Structure: Bullish after defending the demand
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.
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.