Gold (XAUUSD) is currently trading within a well-defined range, showing signs of potential bullish continuation. Here’s a breakdown of my analysis:
1️⃣ Monitor Buy Zone
• The highlighted Monitor Buy Zone represents a key demand area where price previously found strong support.
• If price revisits this level and shows bullish price action (e.g., rejection wicks, bullish engulfing), it could provide a high-probability buying opportunity.
2️⃣ Expected Price Movements
• Scenario 1: If price respects the buy zone and bounces, I anticipate a move toward the first resistance level, which aligns with previous structure and potential liquidity zones.
• Scenario 2: If price breaks past this resistance, a retest could confirm it as new support, offering another entry for the next leg up.
• Final Target: A continuation toward higher highs, following a bullish market structure.
3️⃣ Key Levels to Watch
• Support: Monitor Buy Zone (Potential Entry Area)
• Resistance 1: Mid-range liquidity zone
• Resistance 2: Higher timeframe structure target
4️⃣ Risk Management & Confluences
• Stop Loss: Below the Buy Zone, ensuring a safe exit if price invalidates the setup.
• Confluences:
• Bullish order block alignment
• Possible liquidity sweep below prior lows
• Strong momentum from previous moves
Final Thought: I’m watching for price reaction at the buy zone before entering. A strong rejection and bullish structure break will confirm the trade.
What’s your bias on XAUUSD? Drop your thoughts in the comments!
1️⃣ Monitor Buy Zone
• The highlighted Monitor Buy Zone represents a key demand area where price previously found strong support.
• If price revisits this level and shows bullish price action (e.g., rejection wicks, bullish engulfing), it could provide a high-probability buying opportunity.
2️⃣ Expected Price Movements
• Scenario 1: If price respects the buy zone and bounces, I anticipate a move toward the first resistance level, which aligns with previous structure and potential liquidity zones.
• Scenario 2: If price breaks past this resistance, a retest could confirm it as new support, offering another entry for the next leg up.
• Final Target: A continuation toward higher highs, following a bullish market structure.
3️⃣ Key Levels to Watch
• Support: Monitor Buy Zone (Potential Entry Area)
• Resistance 1: Mid-range liquidity zone
• Resistance 2: Higher timeframe structure target
4️⃣ Risk Management & Confluences
• Stop Loss: Below the Buy Zone, ensuring a safe exit if price invalidates the setup.
• Confluences:
• Bullish order block alignment
• Possible liquidity sweep below prior lows
• Strong momentum from previous moves
Final Thought: I’m watching for price reaction at the buy zone before entering. A strong rejection and bullish structure break will confirm the trade.
What’s your bias on XAUUSD? Drop your thoughts in the comments!
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.