🔔 XAUUSD Bullish Reversal Breakout – Eyes on \$3,390
*Chart Pattern: Falling Wedge | Timeframe: 4H
Gold has recently broken out of a falling wedge pattern, indicating a potential bullish reversal. Price action shows a clean breakout above the wedge resistance, supported by a retest near the \$3,347–\$3,348 entry zone, making this a high-probability long setup.
📌 Key Highlights:
* Breakout Confirmed**: Price has broken above the falling wedge trendline, signaling a shift in momentum.
* Retest Entry Zone**: The breakout is followed by a healthy pullback into the previous resistance (now support) between \$3,347 and \$3,348.
* MACD Confluence**: The chart is supported by a MACD-based price forecasting model, which aligns with bullish sentiment.
*Target Zone**: \$3,390–\$3,400 is the next major resistance level and the ideal take-profit zone.
🛑 Invalid if:** Price falls below \$3,330 support or closes back inside the wedge structure.
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**📈 Trade Setup (Example):**
* **Entry**: \$3,348
* **Stop-loss**: \$3,330
* **Target**: \$3,390–\$3,400
* **Risk-to-Reward**: \~1:2.3
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**💬 Idea Summary:**
This breakout offers a solid opportunity for bullish continuation, supported by structure, momentum, and confluence zones. As long as the price holds above \$3,330, gold looks poised to revisit the \$3,390–\$3,400 zone.
Trade active
Note
Trade closed: target reached
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