Gold (XAU/USD) Price Action Analysis – Potential Bullish Move
Market Structure & Key Levels:
Current Price: 2,794.63
Resistance Zone: 2,800 - 2,805 (Gray Box - Supply Zone)
Support Zone: 2,785 - 2,788 (Gray Box - Demand Zone)
Major Support (Green Zone): 2,780 - 2,783
Target Level: 2,815
Technical Outlook:
Consolidation Phase:
Price is currently trading within a range-bound structure, oscillating between the supply zone (2,800-2,805) and the demand zone (2,785-2,788).
The rejection from resistance suggests temporary selling pressure, but overall, the structure remains bullish.
Liquidity Grab & Potential Entry:
The price is expected to dip into the green support zone (2,780-2,783) before initiating a strong bullish move.
This area represents a high-probability buy zone, aligning with market liquidity and potential institutional orders.
Bullish Breakout Expectation:
Once price finds support in the green demand zone, a strong push toward 2,805+ is likely.
If price clears 2,805, the next major target should be 2,815 (highlighted in red).
Trade Setup & Signal:
Buy Entry: 2,782 - 2,785 (Upon bullish rejection in the green zone).
Stop-Loss: Below 2,774.
Take-Profit Levels:
First TP: 2,800 (Range Resistance).
Second TP: 2,805 (Breakout Level).
Final TP: 2,815 (Major Target).
Conclusion:
The market is consolidating within a tight range, showing bullish bias.
A dip into the green demand zone (2,780-2,783) is an ideal buying opportunity before price targets 2,805 - 2,815.
Confirmation of a bullish reversal at the key support zone is essential before entering long positions.
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Market Structure & Key Levels:
Current Price: 2,794.63
Resistance Zone: 2,800 - 2,805 (Gray Box - Supply Zone)
Support Zone: 2,785 - 2,788 (Gray Box - Demand Zone)
Major Support (Green Zone): 2,780 - 2,783
Target Level: 2,815
Technical Outlook:
Consolidation Phase:
Price is currently trading within a range-bound structure, oscillating between the supply zone (2,800-2,805) and the demand zone (2,785-2,788).
The rejection from resistance suggests temporary selling pressure, but overall, the structure remains bullish.
Liquidity Grab & Potential Entry:
The price is expected to dip into the green support zone (2,780-2,783) before initiating a strong bullish move.
This area represents a high-probability buy zone, aligning with market liquidity and potential institutional orders.
Bullish Breakout Expectation:
Once price finds support in the green demand zone, a strong push toward 2,805+ is likely.
If price clears 2,805, the next major target should be 2,815 (highlighted in red).
Trade Setup & Signal:
Buy Entry: 2,782 - 2,785 (Upon bullish rejection in the green zone).
Stop-Loss: Below 2,774.
Take-Profit Levels:
First TP: 2,800 (Range Resistance).
Second TP: 2,805 (Breakout Level).
Final TP: 2,815 (Major Target).
Conclusion:
The market is consolidating within a tight range, showing bullish bias.
A dip into the green demand zone (2,780-2,783) is an ideal buying opportunity before price targets 2,805 - 2,815.
Confirmation of a bullish reversal at the key support zone is essential before entering long positions.
Please like, follow, comment and share.
Trade active
Gold as always following the trend, nice push upwards for 170+ pips
Trade closed: target reached
The target reached nicely. 220+ pips in single trade.
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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.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
Related publications
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.