Gold (XAU/USD) Intraday Analysis & Trading Idea
Key Observations:
Current Price: 2,936.26 USD
Resistance Zone: 2,955 USD
Support Levels: 2,924 – 2,915 – 2,898 – 2,877 USD
Trend Channel: The price is moving within an ascending channel, respecting trendline support and resistance.
Market Structure & Price Action:
The price made a higher low at 2,918 and a higher high at 2,955, indicating a bullish trend.
The chart suggests potential consolidation before an upside breakout.
Short-term price action is forming a series of higher lows, which supports a bullish continuation.
Possible Trading Plan:
✅ Bullish Scenario:
If price breaks and closes above 2,955, it could target 2,980 USD and higher.
Look for pullbacks to 2,924–2,915 as potential buying opportunities.
❌ Bearish Scenario:
A rejection from 2,955 could lead to a retracement towards 2,915 or 2,877 USD before further upside.
Title for TradingView Idea:
"Gold (XAU/USD) Consolidating – Breakout Above 2,955?" 🚀
Would you like a more detailed strategy or confirmation signals to watch? 🔥
Key Observations:
Current Price: 2,936.26 USD
Resistance Zone: 2,955 USD
Support Levels: 2,924 – 2,915 – 2,898 – 2,877 USD
Trend Channel: The price is moving within an ascending channel, respecting trendline support and resistance.
Market Structure & Price Action:
The price made a higher low at 2,918 and a higher high at 2,955, indicating a bullish trend.
The chart suggests potential consolidation before an upside breakout.
Short-term price action is forming a series of higher lows, which supports a bullish continuation.
Possible Trading Plan:
✅ Bullish Scenario:
If price breaks and closes above 2,955, it could target 2,980 USD and higher.
Look for pullbacks to 2,924–2,915 as potential buying opportunities.
❌ Bearish Scenario:
A rejection from 2,955 could lead to a retracement towards 2,915 or 2,877 USD before further upside.
Title for TradingView Idea:
"Gold (XAU/USD) Consolidating – Breakout Above 2,955?" 🚀
Would you like a more detailed strategy or confirmation signals to watch? 🔥
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.