This 15-minute chart for Gold Spot (XAU/USD) shows a potential bullish setup with price currently trading around 3,321.695. The chart outlines a projected upward movement with three take-profit targets (TP1) set at 3340, 3350, and 3360 USD respectively. A reversal from a key demand zone suggests buying interest and momentum toward higher resistance levels.
Explanation:
Current Price: Gold is currently priced at 3,321.695, showing a slight dip.
Support Zone: The highlighted lower grey box indicates a strong demand/support zone where price previously reversed.
Bullish Setup: Price is expected to bounce off this support and rally towards the upper resistance zone.
TP Levels:
TP1: 3340 – First resistance area and a conservative target.
TP2: 3350 – Mid-level resistance target with a favorable risk-reward ratio.
TP3: 3360 – Key resistance level; a strong breakout above this level could trigger further bullish momentum.
Structure: The price projection uses a classic bullish market structure—higher highs and higher lows leading up to the key levels.
Confirmation Needed: Look for bullish candles, strong volume, or trend continuation signals before entry.
This analysis suggests potential short-term gains for bulls if the price maintains upward momentum and holds above the current support zone.
Explanation:
Current Price: Gold is currently priced at 3,321.695, showing a slight dip.
Support Zone: The highlighted lower grey box indicates a strong demand/support zone where price previously reversed.
Bullish Setup: Price is expected to bounce off this support and rally towards the upper resistance zone.
TP Levels:
TP1: 3340 – First resistance area and a conservative target.
TP2: 3350 – Mid-level resistance target with a favorable risk-reward ratio.
TP3: 3360 – Key resistance level; a strong breakout above this level could trigger further bullish momentum.
Structure: The price projection uses a classic bullish market structure—higher highs and higher lows leading up to the key levels.
Confirmation Needed: Look for bullish candles, strong volume, or trend continuation signals before entry.
This analysis suggests potential short-term gains for bulls if the price maintains upward momentum and holds above the current support zone.
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Disclaimer
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🆓FREE FREE GOLD & CRYPTO SIGNALS✅
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
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.