"Boost it, if you like it (Thanks)"
Gold is showing resilience after a failed breakout attempt, bouncing strongly off the 3,250 support zone. This 4H chart suggests bulls are regaining control, with momentum building toward the next key resistance.
🔍 Technical Breakdown:
Failed Breakout (Failed MTR Structure): Price briefly dipped below the trendline but reversed sharply, invalidating the bearish move.
Dynamic Support: The ascending trendline near 3,250 has held firm, reinforcing bullish structure.
EMA Structure:
15 EMA: 3,323.84
60 EMA: 3,331.61 Price is now trading above both EMAs, signaling bullish momentum.
Current Price: 3,339.0
Target: 3,434.34 – the first major resistance zone before ATH retest.
🧠 Market Psychology:
This setup reflects a classic “shakeout” – weak hands were flushed out below support, only for price to reclaim the level with strength. This often precedes a strong directional move as confidence returns.
🎯 Trade Setup:
Entry: On a confirmed break above 3,345–3,350
Stop Loss: Below 3,325
TP1: 3365
TP2: 3385
Final TP(x): 3,434.34
⚠️ Watchlist:
Monitor price action near 3,360–3,370 for signs of rejection or continuation.
A clean break above 3,434 opens the door for an ATH retest.
#MJTrading
#Gold #XAUUSD #TechnicalAnalysis #TradingView #FailedBreakout #SupportAndResistance #EMA #BullishSetup #PriceAction #ForexTrading #GoldBulls #MarketPsychology
Gold is showing resilience after a failed breakout attempt, bouncing strongly off the 3,250 support zone. This 4H chart suggests bulls are regaining control, with momentum building toward the next key resistance.
🔍 Technical Breakdown:
Failed Breakout (Failed MTR Structure): Price briefly dipped below the trendline but reversed sharply, invalidating the bearish move.
Dynamic Support: The ascending trendline near 3,250 has held firm, reinforcing bullish structure.
EMA Structure:
15 EMA: 3,323.84
60 EMA: 3,331.61 Price is now trading above both EMAs, signaling bullish momentum.
Current Price: 3,339.0
Target: 3,434.34 – the first major resistance zone before ATH retest.
🧠 Market Psychology:
This setup reflects a classic “shakeout” – weak hands were flushed out below support, only for price to reclaim the level with strength. This often precedes a strong directional move as confidence returns.
🎯 Trade Setup:
Entry: On a confirmed break above 3,345–3,350
Stop Loss: Below 3,325
TP1: 3365
TP2: 3385
Final TP(x): 3,434.34
⚠️ Watchlist:
Monitor price action near 3,360–3,370 for signs of rejection or continuation.
A clean break above 3,434 opens the door for an ATH retest.
#MJTrading
#Gold #XAUUSD #TechnicalAnalysis #TradingView #FailedBreakout #SupportAndResistance #EMA #BullishSetup #PriceAction #ForexTrading #GoldBulls #MarketPsychology
Note
H4 candle couldn't Engulf the previous bar, but H2 did.Trade active
Time to Entry...Manage your risk and enter safely...
Related publications
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.
Related publications
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.