Greetings traders this is my analysis on Gold and it is a Long shot for a Buy.
📊 Technical analysis of gold (XAU/USD) — 4h timeframe
🔺 Formation: Head & Shoulders
The pattern is now even more clearly presented with:
Left shoulder – a smaller consolidation move.
Head – a higher peak (higher high).
Right shoulder – a weaker attempt to recover, which confirms the loss of bullish strength.
Usually, such a pattern is followed by a corrective move downwards (which has already been partially seen).
🔄 Potential trend change zone
Highlighted support in the zone:
3,162 – 3,128 USD — very important for confirming the bullish scenario.
The shown "bounce zone" suggests a possible purchase if the price bounces from this area.
📈 Predicted path
Expected:
Fall to support (around 3,150–3,130).
Reversal and continuation of the uptrend.
Target zone: 3,503 – 3,505 USD.
✅ Conclusion and strategy:
Scenario 1 (main): Buy zone between 3,160–3,130 if price action signal is seen (pin bar, engulfing).
Target: 3,500+
Stop loss: below 3,120 (below support).
Scenario 2 (riskier): If price does not bounce from that zone — possible further deepening towards 3,080–3,000.
Dear Traders like,comment let me know what do you think
📊 Technical analysis of gold (XAU/USD) — 4h timeframe
🔺 Formation: Head & Shoulders
The pattern is now even more clearly presented with:
Left shoulder – a smaller consolidation move.
Head – a higher peak (higher high).
Right shoulder – a weaker attempt to recover, which confirms the loss of bullish strength.
Usually, such a pattern is followed by a corrective move downwards (which has already been partially seen).
🔄 Potential trend change zone
Highlighted support in the zone:
3,162 – 3,128 USD — very important for confirming the bullish scenario.
The shown "bounce zone" suggests a possible purchase if the price bounces from this area.
📈 Predicted path
Expected:
Fall to support (around 3,150–3,130).
Reversal and continuation of the uptrend.
Target zone: 3,503 – 3,505 USD.
✅ Conclusion and strategy:
Scenario 1 (main): Buy zone between 3,160–3,130 if price action signal is seen (pin bar, engulfing).
Target: 3,500+
Stop loss: below 3,120 (below support).
Scenario 2 (riskier): If price does not bounce from that zone — possible further deepening towards 3,080–3,000.
Dear Traders like,comment let me know what do you think
Trade active
Trade closed: target reached
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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.