XAUUSD skyrocketed past the 3234 resistance mark confirming further bullish continuation.
Evidently this breakout past 3234 shows that short to mid term bears have reversed into bulls. Coupled with aggressive bullish pressure, the need to retest gaps created during previous price drops becomes highly probable arise.
preco
The classic scenario of retesting broken resistance occurs. The price is now testing the 3234 region which used to serve as resistance and is now attempting to work as support. Confirmation that the bullish sentiments slated for 3255 will push up prices further deploying standards for gap fill algorithms.
🟢 Target Zones:
TP1: 3255
TP2: 3268–3270 (based On Previous Structure Supply)
Bullish continuation while price remains between 3234 and 3268 is believed to be more attainable.
TEC:
Sell Entry (on retest)
First Trigger Point: Marked Higher 3128
Stake your claim under 3227.
📈 Bias:
Aggresively pro bulls based on price action
Long built up pressure and traditional supply demand denoted by previous resistance is primed for breakout.
🗣️ Caption (for post body):
“Price action above 3240 strengthens the bullish thesis, but retest validation is necessary to confirm a long entry order.”
SL under 3229 keeps the trade clean. Setup in progress... 📈
Evidently this breakout past 3234 shows that short to mid term bears have reversed into bulls. Coupled with aggressive bullish pressure, the need to retest gaps created during previous price drops becomes highly probable arise.
preco
The classic scenario of retesting broken resistance occurs. The price is now testing the 3234 region which used to serve as resistance and is now attempting to work as support. Confirmation that the bullish sentiments slated for 3255 will push up prices further deploying standards for gap fill algorithms.
🟢 Target Zones:
TP1: 3255
TP2: 3268–3270 (based On Previous Structure Supply)
Bullish continuation while price remains between 3234 and 3268 is believed to be more attainable.
TEC:
Sell Entry (on retest)
First Trigger Point: Marked Higher 3128
Stake your claim under 3227.
📈 Bias:
Aggresively pro bulls based on price action
Long built up pressure and traditional supply demand denoted by previous resistance is primed for breakout.
🗣️ Caption (for post body):
“Price action above 3240 strengthens the bullish thesis, but retest validation is necessary to confirm a long entry order.”
SL under 3229 keeps the trade clean. Setup in progress... 📈
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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.