Gold Eyes Recovery as Price Targets $3,260 Resistance

Gold is showing signs of a potential rebound on the 15-minute chart. After finding support around the $3215–$3225 zone, price action is starting to climb again. If this upward momentum continues, we could see gold make a push toward the $3260 resistance level. Keep an eye on price behavior near support—any strong bounce could be a signal for further upside.

Note

1. Support Zones:

Key support levels identified around 3,210 and 3,225. Price has reacted here multiple times, showing strong buying interest.

2. Resistance Level:

Strong resistance near 3,260 (horizontal red line). Marked as a key breakout point.

3. Price Action:

Current price: 3,240.610. Price is recovering after testing support.

4. Projected Move:

Expected bullish retracement shown by the blue arrow.

Target: 3,260 zone (black arrow tip).

Potential strategy: Buy near support, aim to sell near 3,260 resistance.

5. Confirmation Needed:

Wait for bullish candlestick pattern near the lower zone for entry.

Monitor volume or momentum indicators to confirm strength of move.

6. Risk Management:

Stop-loss idea: Just below the lower support (around 3,200–3,210), depending on entry.

Trade active

Trade closed: target reached

Trade Idea: Long Position
Entry Price: 3230
Target Price: 3260
Stop Loss: [3210]
Outcome: Target reached
Profit: +300 Pips
Risk-Reward Ratio: 1:1.5
Timeframe: [ 15-min, 1-hr, daily]
Strategy Used: [Breakout above resistance, Trendline support, EMA crossover].
Trade Duration: [ Intraday trade closed in 2 hours]

Analysis:
The asset showed strong bullish momentum with high volume breaking above the 3225 resistance zone. Entry was taken at the retest near 3230. The move followed through smoothly and hit the 3260 target as planned.

Reflection / Lesson:

Patience paid off by waiting for confirmation

Exit strategy worked well — no need to hold longer

Will look for re-entry on a pullback to support

Chart Screenshot

MollyRonaldFx

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MollyRonaldFx

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