BTC 1:10 RR Trade Hits the Target Perfectly.BTC 1:10 RR Trade Hits the Target Perfectly. Yesterday, I had provided this trade at the entry point and after few Hours it reached its Target. Follow me for more Upcoming analysis and Trades.
Forex
USD-CHF Risky Long! Buy!
Hello,Traders!
USD-CHF made a retest
Of the horizontal support
Of 0.8213 and we are already
Seeing a local rebound so
We are locally bullish biased
And we will be expecting a
Further bullish move up
Buy!
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EUR-USD Potential Long! Buy!
Hello,Traders!
EUR-USD is trading in an
Uptrend and the pair made
A breakout of the key horizontal
Level of 1.1300 which is confirmed
So now the price is consolidating
Above the new support
And after a potential retest
Of the support level we are
Likely to see a further
Bullish move up
Buy!
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Check out other forecasts below too!
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GBP/CAD Poised for Breakout – What’s Next After 1.8600?1. TECHNICAL CONTEXT (Daily Chart)
GBP/CAD has been trading within a well-defined ascending channel since early 2025. After hitting the lower bound of the channel around 1.8050 in May, price bounced sharply and regained strength, pushing back above the key 1.8400–1.8450 zone, now confirmed as new support.
Currently, price is approaching the 1.8600 area, which represents:
The upper boundary of the April–May consolidation range
A clear supply zone visible on the weekly chart
A technical resistance cluster (previous closes + Fibonacci levels)
The RSI shows growing momentum, yet not overbought, suggesting potential upside extension toward 1.8779, the monthly high.
Key Technical Levels:
Resistance: 1.8600 – 1.8779 (extended target)
Support: 1.8401 (weekly) and 1.8250 (mid-range level)
Primary Trend: Bullish
Structure: Active ascending channel
2. INSTITUTIONAL POSITIONING (COT REPORT – May 13, 2025)
CAD:
Non-Commercials (speculators) are heavily net short:
23,250 longs vs 105,466 shorts = -82,216 net
Weekly increase: +18,084 new shorts → clear rise in bearish pressure
Commercials (hedgers) are net long, typical of risk hedging, indicating an opposing view to speculators
GBP:
Non-Commercials are net long:
89,540 longs vs 62,324 shorts = +27,216 net, despite a minor weekly reduction (-4,844)
Commercials are net short, likely hedging strength in the pound
COT Takeaway:
Speculators are clearly favoring GBP strength vs CAD, while CAD is under heavy short pressure. This supports further upside in GBP/CAD.
3. RETAIL SENTIMENT
80% of retail traders are short GBP/CAD, with an average entry at 1.8551
20% long, with average entry at 1.8147
This extreme retail skew represents a contrarian bullish signal: the market may push higher to trigger stop-losses on poorly positioned shorts.
4. SEASONALITY
CAD in May:
Mixed behavior with a slight bearish/neutral tendency on 10y and 2y averages
Monthly average: as low as -0.0097 (10-year data)
GBP in May:
Historically one of the weakest months for the British pound
Average returns range between -0.015 and -0.0226
That said, 2025 appears to diverge from seasonal norms, with GBP showing relative strength across the board.
Seasonality Takeaway:
While seasonality favors CAD over GBP in May, this year’s price action and positioning override that pattern.
TRADING SUMMARY
🔹 Primary Bias: Moderately Bullish
🔹 Technical Outlook: Positive structure above key support at 1.8400
🔹 COT Insight: Supports upside due to aggressive CAD short buildup
🔹 Retail Sentiment: Skewed short → potential short squeeze
🔹 Seasonality: Bearish for GBP, but currently outweighed by fundamentals/positioning
SCENARIOS
📈 Bullish Scenario (preferred):
Break and hold above 1.8600 → acceleration toward 1.8779
Midway target: 1.8670 (psychological level)
Technical stop: Below 1.8400 (or trailing SL on breakout)
📉 Corrective Scenario:
Failure at 1.8600 → pullback to 1.8401 (bullish retest)
Deeper weakness only confirmed on break below 1.8250, which would invalidate the ascending channel
CONCLUSION
GBP/CAD is in a structurally bullish setup, backed by speculative favor toward GBP and an extreme short bias on CAD. Despite the unfavorable seasonality for GBP, the technical trend and positioning data justify a bullish outlook with a target at 1.8779, contingent on a confirmed break above 1.8600.
Falling towards 38.2% Fibonacci support?GBP/JPY is falling towards the pivot and could bounce to the 1st, pullback resistance.
Pivot: 191.56
1st Support: 190.35
1st Resistance: 193.65
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
UJ Could Tumble Back To 140 If Bears Take Expanding RangeToday FX:USDJPY Sellers make a Breakout of the Rising Support of the Expanding Range it's been trading in since the Low that started the range back on April 22nd.
An Expanding Range is typically considered a Continuation Pattern suggesting that if Sellers can hold price under the Rising Support, we can suspect JPY to overcome USD in this pair pulling price down continuing the Downtrend it was in prior to entering the pattern.
Once the Breakout of Consolidation is Validated, a Breakout & Retest of the Rising Support could deliver potential Short Opportunities to take price down to the Low of the Range.
Fundamentally, there is a lot of worry about the fall out of Tariff Talks with important trade partners with the 90-Day grace period soon coming to an end, weakening labor market potentially signaling "Stagflation" and additionally, it is suspected that Trump's Tax Cut Bill could add $3 - $5 Trillion to the $36.2 Trillion debt the US is already suffering from, further harming the Dollar.
-https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3RT018:0-dollar-on-defensive-as-traders-eye-trump-tax-bill-g7-currency-talks/
-https://www.tradingview.com/news/te_news:459470:0-dollar-extends-losses/
Weak USD and renewed safe-haven demand support GOLD surgeOANDA:XAUUSD surged to a one-week high. A weak US dollar and safe-haven demand amid economic and geopolitical uncertainty boosted gold prices.
Gold prices rose and held above $3,300 an ounce as traders grew increasingly concerned about the US tax reform vote and escalating tensions in the Middle East. In addition, Moody's downgrade of the US credit rating and the depreciation of the US dollar also boosted safe-haven demand for gold.
CNN reported Tuesday, citing multiple sources, that the latest intelligence suggests Israel is preparing to launch airstrikes on Iranian nuclear facilities, even as negotiations between the Trump administration and Iran over the country's uranium enrichment program continue. Axios, a prominent U.S. news website, reported Wednesday local time that two Israeli sources with knowledge of the negotiations told Axios that Israel is preparing to strike Iran's nuclear facilities quickly if negotiations between the United States and Iran fall apart.
Israeli intelligence has shifted in recent days from believing a nuclear deal was imminent to believing that talks could soon collapse, sources said.
Gold, considered a safe investment amid economic and geopolitical uncertainty, hit a record high of $3,500.05 an ounce last month.
US stocks plunged on Wednesday and US Treasury yields jumped as investors focused on congressional debate over President Trump’s proposed tax reform, raising concerns that the country’s massive debt will continue to rise.
Technical Outlook Analysis OANDA:XAUUSD
After gold broke the technical confluence of the 21-day moving average (EMA21) with the 0.382% Fibonacci retracement, it has qualified for further upside to the next target expected at $3,371, the price point of the 0.236% Fibonacci retracement.
Looking ahead, in the short term, gold has qualified for a new bullish cycle with the nearest support at the raw price point of $3,300 followed by $3,292. A bullish breakout of $3,371 would open the door to a new target at the raw price point of $3,400 in the short term, followed by $3,435.
As noted to readers throughout the publications since the beginning of the year, the trend of gold prices is fixed by the rising price channel, corrections can still take place negatively but the trend has not changed. "In fact, I have also encountered many failures when the market fluctuated too much recently, causing me to not believe in the rising price structure at times."
Trading is not just about fundamentals or technicals, it depends more on trading psychology. With the current market, experienced traders will still often encounter psychological problems, such as me, who is writing this article to you.
Finally, the short-term uptrend of gold prices in the main uptrend will be noted by the following notable levels.
Support: 3,300 – 3,292 – 3,250 USD
Resistance: 3,371 – 3,435 USD
SELL XAUUSD PRICE 3367 - 3365⚡️
↠↠ Stop Loss 3371
→Take Profit 1 3359
↨
→Take Profit 2 3353
BUY XAUUSD PRICE 3265 - 3267⚡️
↠↠ Stop Loss 3261
→Take Profit 1 3273
↨
→Take Profit 2 3279
Market next target
Disruption: Bearish Counter-Analysis
1. Rising Wedge Pattern:
The price action resembles a rising wedge, not a bullish channel.
Rising wedges are typically bearish reversal patterns, especially after strong prior bullish moves.
2. Decreasing Volume:
Volume is tapering off as price climbs, which often signals weakening buying pressure.
Lack of strong volume near resistance suggests potential fake-out risk.
3. Bearish Divergence Risk:
Not visible here, but on RSI or MACD, rising price with slowing momentum often triggers bearish divergence.
This could suggest an imminent drop.
4. False Breakout Trap:
The highlighted resistance zone could trap late buyers.
A fake breakout followed by a strong red candle could trigger stop-loss hunts, dragging price sharply lower.
5. Macro Event Warning:
The U.S. flag at the bottom suggests high-impact news is due.
If USD strengthens, GBP/USD may reject the resistance and drop fast, invalidating the long setup.
Market next target Disruption: Bullish Counter-Analysis
1. Trend Structure:
Despite the local rejection, the overall price trend has been bullish (higher highs and higher lows).
The pullback may just be a healthy retracement, not a reversal.
2. Volume Perspective:
Volume has increased on bullish candles before the resistance test — showing buyer interest.
No significant bearish volume spike to confirm a strong reversal.
3. False Breakdown Trap:
The setup might be a bear trap — a false break below minor support to trap shorts before a bounce higher.
4. Support Holds Strong:
The identified "Support" zone could act as a launch point for a bullish continuation.
If price forms a bullish engulfing or a pin bar in that area, it could invalidate the bearish thesis.
5. Macro Impact (FOMC/U.S. data nearby):
U.S. event (flag at bottom) might bring volatility.
If news is USD-negative, Silver may spike upwards regardless of technical patterns.
XAUUSD – Testing resistance zone, will there be a breakout?Gold continues its impressive recovery on the 3H timeframe, after bouncing strongly from the support zone around $3,300. Currently, the market is approaching a key resistance area at $3,400 – a level that previously triggered strong selling pressure.
EMA34 and EMA89 have crossed upwards, indicating that short-term bullish momentum is gaining strength. However, since this is a former resistance zone, a pullback to the $3,300 area before continuing the upward move is entirely possible.
On the news front, rising jobless claims and weakening manufacturing PMI have lowered expectations for the strength of the USD. However, a slight uptick in the services PMI keeps market sentiment cautious – resulting in a tug-of-war, though still leaning in favor of the buyers.
What do you think? Will gold break out further or take a breather first?
Market next move Disruption (Bearish/Contrarian Outlook):
1. Bearish Divergence:
If RSI or MACD (not shown) is diverging (price making higher highs, indicator making lower highs), this could signal weakness in the uptrend.
2. Rising Wedge Pattern:
The channel might be interpreted as a rising wedge, which is often a bearish reversal pattern, especially if volume declines as price rises.
3. Strong Resistance Zone:
The red rectangular zone could act as major resistance, potentially causing a false breakout or rejection rather than continuation.
4. Volume Discrepancy:
Despite the bullish move, if volume is not increasing proportionally, it might indicate a lack of conviction.
5. Potential Breakdown Path:
Price breaks below the support zone (blue trendline).
Falls to test the previous consolidation zone around $3,300 or lower.
Bearish Scenario Path (Disrupted View):
Red arrow moves sharply down through support.
New target: $3,300 or lower (next visible support).
SPY Trading Opportunity! SELL!
My dear subscribers,
My technical analysis for SPY is below:
The price is coiling around a solid key level - 594.29
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 563.56
My Stop Loss - 611.99
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
USDCAD What Next? BUY!
My dear friends,
My technical analysis for USDCAD is below:
The market is trading on 1.3934 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 1.3958
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
NZDJPY On The Rise! BUY!
My dear subscribers,
This is my opinion on the NZDJPY next move:
The instrument tests an important psychological level 85.502
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 85.708
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
Heading into 50% Fibonacci resistance>The Loonie (USD/CAD) is rising towards the pivot, which has been identified as an overlap resistance and could reverse to the pullback support.
Pivot: 1.3904
1st Support: 1.3781
1st Resistance: 1.3988
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards pullback support?USDJPY is falling towards the pivot which is a pullback support and could bounce to the 1st resistance.
Pivot: 142.400
1st Support: 140.92
1st Resistance: 144.77
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURAUD to find buyers at previous resistance?EURAUD - 24H expiry
The primary trend remains bullish.
The selloff has posted an exhaustion count on the daily chart.
Preferred trade is to buy on dips.
Price action looks to be forming a bottom.
Bespoke support is located at 1.7500.
We look to Buy at 1.7500 (stop at 1.7450)
Our profit targets will be 1.7700 and 1.7730
Resistance: 1.7630 / 1.7680 / 1.7725
Support: 1.7520 / 1.7450 / 1.7400
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Bullish bounce?The Swissie (USD/CHF) has bounced off the pivot and could potentially rise to the 1st resistance.
Pivot: 0.8212
1st Support: 0.8116
1st Resistance: 0.8314
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal?The Fiber (EUR/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 1.1424
1st Support: 1.1263
1st Resistance: 1.1557
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?USD/CHF is reacting off the support level which is an overlap support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8213
Why we like it:
There is anoverlap support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 0.8111
Why we lik eit:
There is a pullback support levl that lines up with the 127.2% Fibonacci extension.
Take profit: 0.8333
Why we like it:
There is an overlap resitance level that aligns with the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish reversal for the Loonie?The price is rising towards the resistance level which is an overlap resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.3904
Why we like it:
There is an overlap resistance level that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 1.4006
Why we like it:
There is a pullback resistance level.
Take profit: 1.3763
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce off overlap support?EUR/USD is falling towards the support level which is an overlap support that lines up with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.1267
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 1.1140
Why we like it:
There is a pullback support level that lines up with the 71% Fibonacci retracement.
Take profit: 1.1425
Why we like it:
There is a pullback resistance level that lines up with the 71% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Chart Analysis (45-Minute Timeframe):1. Breakout Confirmation:
The chart shows a bullish breakout from a rising wedge or channel structure, marked with two red trend lines.
Price has closed above the Ichimoku cloud, confirming bullish momentum.
2. Key Resistance Levels:
First resistance: $3,324.89 (being tested currently).
Major target/resistance zone: $3,368.18 (highlighted by the upper red line and arrow).
This zone aligns with a previous strong supply area visible on the left of the chart.
3. Support Levels:
Immediate support at the breakout zone around $3,310.
Additional supports lie at:
$3,308.23
$3,305.13
$3,266.45 (bottom of the recent move and key invalidation zone).
4. Volume Profile:
Increased bullish volume is supporting the breakout.
No significant bearish volume spikes yet, indicating momentum is still in favor of buyers.
5. Ichimoku Cloud Insight:
Bullish signals:
Price is above the cloud.
Lagging span (Chikou) is above price.
Cloud ahead is green, indicating potential continued bullish trend.
6. Expected Move:
If price holds above $3,310, we could see a continuation toward the target zone at $3,368.
However, failure to hold above $3,310–$3,305 could lead to a pullback toward the base of the channel or cloud support.
Summary:
Gold is in a bullish breakout phase. A sustained move above $3,324 and holding support at $3,310 increases the likelihood of a move toward the $3,368 resistance zone. Watch volume and lower trend support for any signs of a reversal or failed breakout.
