XAUUSD (Gold) Technical Analysis
📉 Bearish Trendline Breakout & Retest: Price has broken above a descending trendline and successfully retested it as support, signaling a potential trend reversal.
AB=CD Pattern: A harmonic AB=CD pattern is in play, supporting the bullish continuation scenario.
Bullish FVG (Fair Value Gap): Gold has taken support from a Bullish Fair Value Gap, indicating strong demand in that zone.
Wyckoff Upthrust Move: A Wyckoff Upthrust has played out, suggesting a possible spring and absorption of selling pressure.
Trend-Based Fibonacci Projection: The next major Fib extension level (100%) is at 3285, providing a key upside target.
Trade Setup
📈 Buy @ CMP: 3203
🛡 SL: 3152
🎯 TP1: 3235
🎯 TP2: 3285
⚠️ Risk Management is the Key to success 🔐
📉 Bearish Trendline Breakout & Retest: Price has broken above a descending trendline and successfully retested it as support, signaling a potential trend reversal.
AB=CD Pattern: A harmonic AB=CD pattern is in play, supporting the bullish continuation scenario.
Bullish FVG (Fair Value Gap): Gold has taken support from a Bullish Fair Value Gap, indicating strong demand in that zone.
Wyckoff Upthrust Move: A Wyckoff Upthrust has played out, suggesting a possible spring and absorption of selling pressure.
Trend-Based Fibonacci Projection: The next major Fib extension level (100%) is at 3285, providing a key upside target.
Trade Setup
📈 Buy @ CMP: 3203
🛡 SL: 3152
🎯 TP1: 3235
🎯 TP2: 3285
⚠️ Risk Management is the Key to success 🔐
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.