🚨 XAUUSD 15M – Compression Before Expansion?
Gold is forming a bullish wedge near the PDL (Previous Day Low) and has tapped into the 0.5–0.618 Fib retracement zone, aligning with a recent demand area and volume support. Price is coiling, suggesting a potential breakout move.
🔎 Key Technical Confluences:
Retested Recent Broken Resistance Zone near 3280–3285 (now acting as demand)
Price forming a bullish pennant right at the equilibrium zone
Fibonacci 0.5/0.618 (support) + Volume POC at 3297 area
OP (Order Point) marked as key bullish breakout zone → target PDH at 3331
📌 Scenarios:
✅ Bullish Case: Clean break above 3297–3300 could send price toward 3315 and PDH (3331)
⚠️ Bearish Rejection: Failure at OP and breakdown below PDL (~3290) may lead to retest of the deeper demand zone (3250–3260)
🕵️♂️ Faith Driven Note:
Let NY session decide. If liquidity is engineered under PDL and no real breakdown happens, reversal toward PDH is on the table.
📍Bias: Neutral-to-Bullish
🔔 Eyes on: London Close to NY Open for true direction
Gold is forming a bullish wedge near the PDL (Previous Day Low) and has tapped into the 0.5–0.618 Fib retracement zone, aligning with a recent demand area and volume support. Price is coiling, suggesting a potential breakout move.
🔎 Key Technical Confluences:
Retested Recent Broken Resistance Zone near 3280–3285 (now acting as demand)
Price forming a bullish pennant right at the equilibrium zone
Fibonacci 0.5/0.618 (support) + Volume POC at 3297 area
OP (Order Point) marked as key bullish breakout zone → target PDH at 3331
📌 Scenarios:
✅ Bullish Case: Clean break above 3297–3300 could send price toward 3315 and PDH (3331)
⚠️ Bearish Rejection: Failure at OP and breakdown below PDL (~3290) may lead to retest of the deeper demand zone (3250–3260)
🕵️♂️ Faith Driven Note:
Let NY session decide. If liquidity is engineered under PDL and no real breakdown happens, reversal toward PDH is on the table.
📍Bias: Neutral-to-Bullish
🔔 Eyes on: London Close to NY Open for true direction
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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.