Gold(XAUUSD Bullish Breakout with Upside Potential Towards 2,940
This chart shows a bullish structure in gold (XAUUSD) on the 15-minute timeframe.
1. **Break of Structure (BOS)** – There was a BOS to the upside, confirming bullish momentum.
2. **Change of Character (ChoCH)** – Multiple ChoCH events indicate a shift in sentiment before the breakout.
3. **Liquidity & Equal Highs (EQH)** – A weak high is marked around 2,940, suggesting a possible liquidity grab.
4. **Demand Zone & Trendline Support** – The price rebounded from a key demand zone and trendline support, fueling the breakout.
5. **Current Price Action** – Gold is currently in a minor pullback around 2,911 after a strong bullish push. The next potential target is near the 2,940 resistance.
If the price holds above the 2,904–2,911 support zone, further upside is expected toward 2,940. A failure to hold could lead to a retest of lower demand zones.
1. **Break of Structure (BOS)** – There was a BOS to the upside, confirming bullish momentum.
2. **Change of Character (ChoCH)** – Multiple ChoCH events indicate a shift in sentiment before the breakout.
3. **Liquidity & Equal Highs (EQH)** – A weak high is marked around 2,940, suggesting a possible liquidity grab.
4. **Demand Zone & Trendline Support** – The price rebounded from a key demand zone and trendline support, fueling the breakout.
5. **Current Price Action** – Gold is currently in a minor pullback around 2,911 after a strong bullish push. The next potential target is near the 2,940 resistance.
If the price holds above the 2,904–2,911 support zone, further upside is expected toward 2,940. A failure to hold could lead to a retest of lower demand zones.
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
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.