Hello traders!
We’re currently observing a clean breakout setup on Gold (XAUUSD).
After a strong bullish structure with higher lows, price formed a rising wedge pattern, followed by a sharp fake-out and liquidity grab below trendline support.
The market quickly reclaimed the zone and is now breaking above the wedge’s descending resistance line with strength.
I’m anticipating a continuation to the upside, potentially toward the $3340–$3350 area, marked by the green target zone.
This setup offers a solid risk-to-reward opportunity, especially as price respected the lower liquidity sweep and confirmed with a bullish engulfing on the retest.
⚠️ Still, this is a reactive play — if the price closes below the grey zone, I will exit and reassess.
This is a short-to-medium term idea based on market structure, volume reaction, and breakout dynamics.
Good Luck!
DISCIPLINE
This is just my perspective — feel free to share your thoughts in the comments!
If you find this analysis helpful, your support is appreciated! 🙌
Disclaimer:
This is not financial advice. Trade at your own risk.
Always plan your trade, and trade your plan.
We’re currently observing a clean breakout setup on Gold (XAUUSD).
After a strong bullish structure with higher lows, price formed a rising wedge pattern, followed by a sharp fake-out and liquidity grab below trendline support.
The market quickly reclaimed the zone and is now breaking above the wedge’s descending resistance line with strength.
I’m anticipating a continuation to the upside, potentially toward the $3340–$3350 area, marked by the green target zone.
This setup offers a solid risk-to-reward opportunity, especially as price respected the lower liquidity sweep and confirmed with a bullish engulfing on the retest.
⚠️ Still, this is a reactive play — if the price closes below the grey zone, I will exit and reassess.
This is a short-to-medium term idea based on market structure, volume reaction, and breakout dynamics.
Good Luck!
DISCIPLINE
- Strive for patience, perseverance, determination, & rational action.
- Protect your capital. Use stop losses.
- Never move or remove your stop just because price moves against you.
This is just my perspective — feel free to share your thoughts in the comments!
If you find this analysis helpful, your support is appreciated! 🙌
Disclaimer:
This is not financial advice. Trade at your own risk.
Always plan your trade, and trade your plan.
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.