Hey Traders:
Gold (
XAUUSD ) has maintained its bullish market structure despite recent pullbacks. We are currently sitting on a significant horizontal and trendline support area, where buyers have previously stepped in. This presents a potential opportunity for a bullish continuation if price holds and confirms at this zone.
Current Market Conditions:
Price is holding above a confluence zone of horizontal support and the lower bound of the ascending channel.
Recent rejection from the 3,320–3,325 area shows this level acting as a decision point.
Bullish engulfing candle forming at this level may indicate renewed buying momentum.
An internal ascending structure remains intact, pointing to the potential for a rebound.
Fundamental Analysis/Outlook:
Gold & Stocks Both Nearing All-Time Highs
Gold futures are up ~27% year-to-date and are trading near record prices alongside the S&P 500—a rare occurrence that reflects a market split between optimism (equities) and caution (gold). This dynamic is fueled by dovish Fed expectations, inflation fears, and structural concerns like a weakening U.S. dollar and rising deficits
U.S.–China Trade Talks Support Gold
Spot gold inched higher ahead of high-stakes U.S.–China trade discussions in London. These talks reduce global inflation pressure but also retain volatility due to ongoing geopolitical uncertainty. Any de-escalation could relieve gold's recent rally, while a breakdown could act as a catalyst for further upside.
Targets:
TP1: 3,336
TP2: 3,344
TP3: 3,349
Risk Management:
Stop-Loss: Below 3,323 (just under structure support)
Ensure risk-to-reward ratio of at least 1:2.
Wait for bullish confirmation before entering, such as a strong breakout candle or retest-and-reject pattern.
Technical Outlook:
The chart shows price holding at a key support, within a bullish channel.
Market structure remains bullish on intraday timeframes.
A potential inverse head-and-shoulders formation or wedge breakout may be developing.
Entry on breakout and retest above 3,326 resistance zone would be ideal.
Conclusion:
As long as price continues to respect the current support zone and structure, XAUUSD holds potential for a bullish continuation. Watch for confirmation, manage risk, and trade with precision.
Sign-off:
"Opportunities multiply as they are seized. Trust the structure, not your emotions."
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
Gold (
XAUUSD ) has maintained its bullish market structure despite recent pullbacks. We are currently sitting on a significant horizontal and trendline support area, where buyers have previously stepped in. This presents a potential opportunity for a bullish continuation if price holds and confirms at this zone.Current Market Conditions:
Price is holding above a confluence zone of horizontal support and the lower bound of the ascending channel.
Recent rejection from the 3,320–3,325 area shows this level acting as a decision point.
Bullish engulfing candle forming at this level may indicate renewed buying momentum.
An internal ascending structure remains intact, pointing to the potential for a rebound.
Fundamental Analysis/Outlook:
Gold & Stocks Both Nearing All-Time Highs
Gold futures are up ~27% year-to-date and are trading near record prices alongside the S&P 500—a rare occurrence that reflects a market split between optimism (equities) and caution (gold). This dynamic is fueled by dovish Fed expectations, inflation fears, and structural concerns like a weakening U.S. dollar and rising deficits
U.S.–China Trade Talks Support Gold
Spot gold inched higher ahead of high-stakes U.S.–China trade discussions in London. These talks reduce global inflation pressure but also retain volatility due to ongoing geopolitical uncertainty. Any de-escalation could relieve gold's recent rally, while a breakdown could act as a catalyst for further upside.
Targets:
TP1: 3,336
TP2: 3,344
TP3: 3,349
Risk Management:
Stop-Loss: Below 3,323 (just under structure support)
Ensure risk-to-reward ratio of at least 1:2.
Wait for bullish confirmation before entering, such as a strong breakout candle or retest-and-reject pattern.
Technical Outlook:
The chart shows price holding at a key support, within a bullish channel.
Market structure remains bullish on intraday timeframes.
A potential inverse head-and-shoulders formation or wedge breakout may be developing.
Entry on breakout and retest above 3,326 resistance zone would be ideal.
Conclusion:
As long as price continues to respect the current support zone and structure, XAUUSD holds potential for a bullish continuation. Watch for confirmation, manage risk, and trade with precision.
Sign-off:
"Opportunities multiply as they are seized. Trust the structure, not your emotions."
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
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.