After recovering from the 3235–3244 demand zone, where buyers stepped in forcefully after a clean accumulation phase, gold (XAUUSD) has demonstrated strong bullish momentum. A short-term bullish trend appears to be continuing as price action has been making higher highs and higher lows.
Volume and candle strength support the entry for a buy position, which is confirmed by the breakout above 3244. The supply zone between 3256 and 3265, where rejections have happened in the past, is currently being pushed toward by the market. However, based on how the price responds within that zone, the current strength indicates that a clean tap or even a breakout may be possible.
📌 Trade Setup Summary: 🔹 Entry: 3244 (following confirmation of the breakout)
🛑 Stop-Loss: 3235 (see demand structure below)
🎯 Profit 1: 3256 (the supply zone's first resistance)
🎯 Profit 2: 3265 (supply zone top)
Volume and candle strength support the entry for a buy position, which is confirmed by the breakout above 3244. The supply zone between 3256 and 3265, where rejections have happened in the past, is currently being pushed toward by the market. However, based on how the price responds within that zone, the current strength indicates that a clean tap or even a breakout may be possible.
📌 Trade Setup Summary: 🔹 Entry: 3244 (following confirmation of the breakout)
🛑 Stop-Loss: 3235 (see demand structure below)
🎯 Profit 1: 3256 (the supply zone's first resistance)
🎯 Profit 2: 3265 (supply zone top)
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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.