XAU/USD – Is the Uptrend Ready for the Next Move?
Updated
Gold is approaching a major support level within its rising channel! 📊 Could this be the next higher low (HL) in the uptrend?
If bulls step in here, we might see a push back toward the channel highs! 🚀
🔹 Key Support Levels: $2,655 is the immediate support, while $2,580 serves as a critical backstop below.
🔹 Potential Setup: Long on bullish confirmation around these supports.
🔹 My Thought: I believe Gold could be forming another HL here, potentially setting up for another push higher before any major correction. Historically Gold has shown bullish momentum leading up to U.S. elections, rallying once before turning bearish afterward.
What are your thoughts? Are you bullish or bearish on gold?
💬 Drop your comments below and let’s discuss! 👇
If bulls step in here, we might see a push back toward the channel highs! 🚀
🔹 Key Support Levels: $2,655 is the immediate support, while $2,580 serves as a critical backstop below.
🔹 Potential Setup: Long on bullish confirmation around these supports.
🔹 My Thought: I believe Gold could be forming another HL here, potentially setting up for another push higher before any major correction. Historically Gold has shown bullish momentum leading up to U.S. elections, rallying once before turning bearish afterward.
What are your thoughts? Are you bullish or bearish on gold?
💬 Drop your comments below and let’s discuss! 👇
Trade active
🔔 Update on XAU/USD - The Uptrend is Holding Strong! 🔔
I’m excited to share that our initial idea on Gold (XAU/USD) is performing well! The price has successfully bounced off
📊 Key Highlights:
Successful Bounce: The price action confirms our expectation of a higher low (HL) forming at this support level.
Next Target: If momentum continues, we could see a rally towards the upper channel resistance around $2,840
⚠️ Important Trading Advice:
If your entry is around $2,650 - $2,655, I strongly recommend
Setting your stop loss (SL) at break even.
Closing 50% of your position to secure some profit if the price moves against you
This way, you can lock in gains while effectively managing your risk.
💬 What are Your Thoughts?
Are you still bullish on Gold? What’s your take on the next resistance levels? Let’s discuss in the comments!
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