Gold (XAUUSD) continues to show strength on the 4-hour chart, maintaining its bullish structure and offering a compelling opportunity for swing traders. The market has recently rejected a key support zone, confirming buyer interest and momentum continuation.
Key Technical Observations
Trade Setup
Gold is clearly bullish on the 4-hour timeframe. The trendline bounce, support zone defense, and breakout from consolidation provide a solid basis for swing traders aiming to capture a move toward the all-time high. As long as price remains above the $3,265 level, bullish positions remain valid.
Key Technical Observations
- Support Zone Rejection: Price strongly rejected the $3,199–$3,265 support zone, forming a clear bullish response. This zone also coincides with the rising trendline, adding strength to the support.
- Trendline Confirmation: The dotted green ascending trendline has been respected multiple times, reinforcing the ongoing uptrend.
- Consolidation Breakout: After consolidating for nearly 3 days, price broke above the range, confirming bullish intent.
- All-Time High Target: The next major resistance lies near the all-time high at $3,504, which acts as the primary upside target.
Trade Setup
- Entry Level: $3,338 (after breakout from consolidation)
- Take Profit (TP): $3,504
- Stop Loss (SL): $3,265
- Risk-Reward Ratio: Approximately 2.28
Gold is clearly bullish on the 4-hour timeframe. The trendline bounce, support zone defense, and breakout from consolidation provide a solid basis for swing traders aiming to capture a move toward the all-time high. As long as price remains above the $3,265 level, bullish positions remain valid.
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
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.