Gold (XAU/USD) – Potential Reversal Setup | Long Opportunity
Greetings traders!
Today, I'm sharing a high-probability reversal setup on Gold (XAU/USD) observed on the 30-minute chart. After a consistent downtrend, price action has approached a key support zone, showing signs of a potential bullish bounce.
Technical Highlights:
Support Zone: Price is currently holding a strong support level around the 3,210–3,215 range.
Descending Trendline: A breakout above this trendline could trigger a shift in momentum.
Volume Analysis: Increasing volume near support suggests potential accumulation.
Trade Plan:
Entry: Around 3,212
Stop Loss: 3,172 (below the support zone to manage risk)
Take Profit 1: 3,279 – first major resistance
Take Profit 2: 3,361 – extended target on bullish continuation
Risk Management:
Always use proper position sizing and risk-to-reward planning. This setup offers an attractive R:R ratio while staying within disciplined risk parameters.
Disclaimer:
This idea is shared for educational purposes only and does not constitute financial advice. Always do your own research before trading.
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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.
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.