Gold (XAUUSD) Trade Setup: Bullish Breakout Toward $3,637 TargeCurrent Price: $3,309.18
EMA 30 (Red Line): $3,265.00
EMA 200 (Blue Line): $3,163.35
Trend Direction: Strong uptrend (price above both EMAs)
Timeframe: 1-hour (short-term analysis)
📍 Key Levels
Entry Point: Around $3,266.63 (just above EMA 30)
Stop Loss: Around $3,265.00
Target (EA Target Point): $3,637.23
Potential Profit: +$365.01 or +11.16%
🔍 Technical Patterns & Zones
Rising Channel: Price is moving within a rising wedge or channel, indicating bullish momentum but with narrowing range — a potential reversal signal if broken.
Support Zone: Highlighted purple box around the entry point; likely a demand zone.
Resistance Zone: $3,637.23 area marked as the EA Target Point — previous resistance or Fibonacci extension level.
✅ Bullish Signals
Price is consistently making higher highs and higher lows.
EMAs are aligned in a bullish formation (short EMA above long EMA).
Clear breakout above consolidation range recently.
Trade setup shows favorable risk-to-reward ratio.
⚠️ Risks / Caution
Rising wedge can sometimes break down — watch for volume drop or divergence.
Potential pullback to the entry zone is expected (indicated by the arrow).
News Events: Symbols below the chart indicate upcoming USD economic data, which could bring volatility.
📈 Strategy Summary
Buy on pullback to $3,266.63 with tight stop at $3,265.00.
Target: $3,637.23 — potential 11% gain.
Risk: Minimal if stop is respected, tight stop-loss.
