Gold is definitely at an interesting inflection point, with both bullish and bearish scenarios presenting strong arguments. Let’s break it down further:
Bullish Case
1. Strong Trendline Support – The ascending trendline and price action suggest bulls are still in control unless we see a decisive break below 2920.
2. Golden Zone Confluence – Fibonacci retracement from the last major low aligns with this support zone (2925-2920), adding strength to a potential bounce.
3. Key Targets – If 2925 holds, price could climb toward 2931, 2940, 2947, 2955, with a potential ATH target of 2977-2981.
📌 Plan: Look for bullish confirmations at 2925 (wicks, bullish engulfing,) with stops below 2915.
Here we can look for longs
XAUUSD
Long / buy
Entry: 2925
TP: 2977
SL: 2915
Risk 0.5-1%
TP1 2931
TP2 2940
TP3 2947
TP4 2955
Final tp 2977
Using Proper Risk Management
Bearish Case
1. Head & Shoulders Pattern – A possible reversal structure is forming, with 2925-2920 as the neckline.
2. Break & Retest Setup – If 2920 breaks without strong rejections, we could see a shift in momentum.
3. Next Support Levels – A break of 2920 could open the door for 2908, 2902, if selling accelerates.
📌 Plan: If 2920 breaks and retests as resistance, look for shorts targeting 2908, 2895, and 2875.
Decision Zone: 2925-2920
Above 2925: Bulls maintain control, targeting 2931 → 2940 → 2955 → 2977.
Below 2920: Bears take over, aiming for 2908 → 2895 → 2875.
With major news events next week, this zone will be critical. If buyers step in aggressively, the bullish trend continues. But if 2920 folds, it could be the beginning of a larger correction.
Which way are you leaning right now?
Bullish Case
1. Strong Trendline Support – The ascending trendline and price action suggest bulls are still in control unless we see a decisive break below 2920.
2. Golden Zone Confluence – Fibonacci retracement from the last major low aligns with this support zone (2925-2920), adding strength to a potential bounce.
3. Key Targets – If 2925 holds, price could climb toward 2931, 2940, 2947, 2955, with a potential ATH target of 2977-2981.
📌 Plan: Look for bullish confirmations at 2925 (wicks, bullish engulfing,) with stops below 2915.
Here we can look for longs
XAUUSD
Long / buy
Entry: 2925
TP: 2977
SL: 2915
Risk 0.5-1%
TP1 2931
TP2 2940
TP3 2947
TP4 2955
Final tp 2977
Using Proper Risk Management
Bearish Case
1. Head & Shoulders Pattern – A possible reversal structure is forming, with 2925-2920 as the neckline.
2. Break & Retest Setup – If 2920 breaks without strong rejections, we could see a shift in momentum.
3. Next Support Levels – A break of 2920 could open the door for 2908, 2902, if selling accelerates.
📌 Plan: If 2920 breaks and retests as resistance, look for shorts targeting 2908, 2895, and 2875.
Decision Zone: 2925-2920
Above 2925: Bulls maintain control, targeting 2931 → 2940 → 2955 → 2977.
Below 2920: Bears take over, aiming for 2908 → 2895 → 2875.
With major news events next week, this zone will be critical. If buyers step in aggressively, the bullish trend continues. But if 2920 folds, it could be the beginning of a larger correction.
Which way are you leaning right now?
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.
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.