On the 4-hour timeframe (H4), XAUUSD is clearly consolidating just below the key resistance zone near $3,366, forming higher lows and lower highs within a tightening range highlighted by the shaded area.
1. Key Price Action Highlights
Price has been forming higher lows, suggesting growing bullish momentum.
The $3,366 resistance remains intact – a breakout above this level could confirm bullish continuation.
A visible double bottom (W pattern) formed around June 28 hints at a strong technical rebound after a correction phase.
2. Important Support and Resistance Levels
Price Level
Significance
$3,366 – $3,380
Major resistance zone – likely breakout target
$3,300
Key near-term support where price recently bounced
$3,242
Deeper support – a breakdown here could confirm bearish reversal
3. Suggested Trading Strategy
Buy on breakout above $3,366 with strong volume and clear confirmation (e.g., a large-bodied candle closing above resistance).
Consider buying on a pullback to the $3,320 – $3,300 zone for better risk-reward.
Stay cautious if price breaks below $3,300 – this could signal a bearish shift in momentum.
Gold is currently in a tight consolidation phase under major resistance, with bullish structure still intact. A breakout above $3,366 could trigger a sharp move upward. Until then, traders should monitor the lower boundaries for potential pullbacks or invalidation signals.
1. Key Price Action Highlights
Price has been forming higher lows, suggesting growing bullish momentum.
The $3,366 resistance remains intact – a breakout above this level could confirm bullish continuation.
A visible double bottom (W pattern) formed around June 28 hints at a strong technical rebound after a correction phase.
2. Important Support and Resistance Levels
Price Level
Significance
$3,366 – $3,380
Major resistance zone – likely breakout target
$3,300
Key near-term support where price recently bounced
$3,242
Deeper support – a breakdown here could confirm bearish reversal
3. Suggested Trading Strategy
Buy on breakout above $3,366 with strong volume and clear confirmation (e.g., a large-bodied candle closing above resistance).
Consider buying on a pullback to the $3,320 – $3,300 zone for better risk-reward.
Stay cautious if price breaks below $3,300 – this could signal a bearish shift in momentum.
Gold is currently in a tight consolidation phase under major resistance, with bullish structure still intact. A breakout above $3,366 could trigger a sharp move upward. Until then, traders should monitor the lower boundaries for potential pullbacks or invalidation signals.
🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
t.me/dnaprofits
Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
t.me/dnaprofits
Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
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.
🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
t.me/dnaprofits
Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
t.me/dnaprofits
Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
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.