📊 Analysis Summary:
Gold (XAUUSD) has broken out of a falling channel on the 1H timeframe with strong bullish momentum. After the breakout, price retested a minor bullish order block, providing a solid confirmation for potential continuation to the upside.
🔍 Technical Confluences:
Falling channel breakout
Bullish engulfing breakout candle
Retest of minor bullish order block (acting as support)
Clear bullish Break of Structure (BOS)
📌 Trade Plan:
Entry: 3365 (OB retest zone)
Stop Loss: 3345 (20 points below OB zone)
Take Profit 1: 3399 (Key intraday resistance)
Take Profit 2: 3451 (Swing high target)
📈 Risk-Reward: Approximately 1:4
📌 Expectation:
If the order block support holds, we can expect a bullish continuation toward 3400+ and possibly 3450 in the coming sessions.
Gold (XAUUSD) has broken out of a falling channel on the 1H timeframe with strong bullish momentum. After the breakout, price retested a minor bullish order block, providing a solid confirmation for potential continuation to the upside.
🔍 Technical Confluences:
Falling channel breakout
Bullish engulfing breakout candle
Retest of minor bullish order block (acting as support)
Clear bullish Break of Structure (BOS)
📌 Trade Plan:
Entry: 3365 (OB retest zone)
Stop Loss: 3345 (20 points below OB zone)
Take Profit 1: 3399 (Key intraday resistance)
Take Profit 2: 3451 (Swing high target)
📈 Risk-Reward: Approximately 1:4
📌 Expectation:
If the order block support holds, we can expect a bullish continuation toward 3400+ and possibly 3450 in the coming sessions.
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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.