📌 Key Observations from the Chart:
1️⃣ Fake Breakdown & Reversal Setup
✔ Price sharply dropped below $2,900 but bounced back fast → Possible liquidity grab by institutions.
✔ Strong rejection wick at the bottom → Indicates buying pressure stepping in.
✔ Bear trap below the symmetrical triangle → Market may reverse back up.
2️⃣ Key Institutional Support & Resistance Zones
🔹 Strong Support Levels Below:
$2,900 - $2,892 → Fake breakdown area (liquidity grab).
$2,875 → Deep liquidity pocket (if $2,892 fails).
🔸 Immediate Upside Resistance Targets:
$2,910 - $2,912 → First resistance (previous key level).
$2,920 - $2,926 → Next breakout zone.
🚀 Trade Decision – Buy Now?
✅ BUY SETUP (High-Probability Long Trade)
📍 Exact Entry: Buy at $2,900 - $2,902 (retest of support).
🎯 Take Profit Targets:
TP1: $2,912 (Break-even resistance).
TP2: $2,920 (Liquidity zone).
TP3: $2,926+ (Triangle breakout target).
❌ Stop-Loss: Below $2,892 (To avoid stop-hunts).
📊 Risk-Reward Ratio (R:R): 1:3
🔥 Final Verdict – Buy XAU/USD Now!
📌 BUY at $2,900 - $2,902 on retest.
📌 Target $2,912 - $2,920 - $2,926.
📌 Stop-loss below $2,892.
💰 Bias: Bullish – Execute Buy Trade! 🚀📈
1️⃣ Fake Breakdown & Reversal Setup
✔ Price sharply dropped below $2,900 but bounced back fast → Possible liquidity grab by institutions.
✔ Strong rejection wick at the bottom → Indicates buying pressure stepping in.
✔ Bear trap below the symmetrical triangle → Market may reverse back up.
2️⃣ Key Institutional Support & Resistance Zones
🔹 Strong Support Levels Below:
$2,900 - $2,892 → Fake breakdown area (liquidity grab).
$2,875 → Deep liquidity pocket (if $2,892 fails).
🔸 Immediate Upside Resistance Targets:
$2,910 - $2,912 → First resistance (previous key level).
$2,920 - $2,926 → Next breakout zone.
🚀 Trade Decision – Buy Now?
✅ BUY SETUP (High-Probability Long Trade)
📍 Exact Entry: Buy at $2,900 - $2,902 (retest of support).
🎯 Take Profit Targets:
TP1: $2,912 (Break-even resistance).
TP2: $2,920 (Liquidity zone).
TP3: $2,926+ (Triangle breakout target).
❌ Stop-Loss: Below $2,892 (To avoid stop-hunts).
📊 Risk-Reward Ratio (R:R): 1:3
🔥 Final Verdict – Buy XAU/USD Now!
📌 BUY at $2,900 - $2,902 on retest.
📌 Target $2,912 - $2,920 - $2,926.
📌 Stop-loss below $2,892.
💰 Bias: Bullish – Execute Buy Trade! 🚀📈
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.