On the 15-minute chart, XAUUSD has successfully broken out of a falling trendline, indicating a shift from bearish to bullish momentum. Post-breakout, price action is showing a potential setup for a retest of the trendline, aligning with a strong order block (OB) on the M15 timeframe around the 3210–3215 zone.
Additionally, we have the 200 EMA acting as support below the OB zone, creating a high-probability confluence area. This zone is ideal for watching bullish confirmation candlesticks for a long entry.
The price is expected to retrace toward the OB/trendline/EMA zone, then bounce higher toward the resistance zone around 3240–3244, which is the immediate target area.
We have two scenarios from here:
Scenario 1: Short Position to OB Retest
We can take short entry from the current price level of 3227–3229, expecting a pullback toward the OB zone around 3210–3215.
Scenario 2: Long Position from OB Retest
The second scenario presents an opportunity to buy the market once the price reaches the OB zone between 3210–3215, where strong confluence is expected.
Additionally, we have the 200 EMA acting as support below the OB zone, creating a high-probability confluence area. This zone is ideal for watching bullish confirmation candlesticks for a long entry.
The price is expected to retrace toward the OB/trendline/EMA zone, then bounce higher toward the resistance zone around 3240–3244, which is the immediate target area.
We have two scenarios from here:
Scenario 1: Short Position to OB Retest
We can take short entry from the current price level of 3227–3229, expecting a pullback toward the OB zone around 3210–3215.
Scenario 2: Long Position from OB Retest
The second scenario presents an opportunity to buy the market once the price reaches the OB zone between 3210–3215, where strong confluence is expected.
Trade active
Noe after a while market tap out our OB and it should now go up because we don't have any big liquidity resting below so its very rear market fall. We can tak our buy side entry from here at 3212 set your SL just below zone 3209 Trade closed: target reached
Price successfully retraced to the OB/Trendline/EMA confluence zone, provided a bullish reaction, and moved precisely toward the target zone as anticipated.This confirms the effectiveness of the confluence area and the bullish breakout structure..
Good setup took some time but played out well, profitable in trading are those who wait
🗣Daily forex updates 🇺🇲🌎🗣Fundamentals and Technical experts🗣GBP specialists & Gold🗣weekly 1500-2000pips🗣chart patterns 👍 t.me/ApexBullGold
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.
🗣Daily forex updates 🇺🇲🌎🗣Fundamentals and Technical experts🗣GBP specialists & Gold🗣weekly 1500-2000pips🗣chart patterns 👍 t.me/ApexBullGold
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.