📊 Gold (XAU/USD) is showing bullish momentum after bouncing from a key demand zone. Will we see a breakout toward $3,141?
🔥 Key Technical Levels
🔹 Major Support Zone: $2,979 – $3,011 (Strong demand area, where buyers stepped in)
🔹 Mid-Range Resistance: $3,061 (Key reaction level; breakout here could fuel more upside)
🔹 Major Resistance Zone: $3,141 – $3,160 (Supply zone; strong seller interest in this area)
📉 Price Action Breakdown
✅ Gold recently dropped into a high-volume demand zone (orange area) around $2,979, where buyers aggressively pushed the price back up.
✅ Now, price is approaching $3,061, a key pivot level. If bulls break above this, a push toward $3,141 becomes highly likely.
✅ If price struggles to break $3,061, we could see a retest of $2,979 before another potential bounce.
📢 Trading Plan & Market Outlook
🔹 Bullish Scenario: A strong close above $3,061 could open the door for a rally toward $3,141 – $3,160. Traders may look for breakout buys above $3,061 with stop-losses below recent swing lows.
🔹 Bearish Scenario: If price fails to break $3,061, sellers could regain control and push gold back toward $2,979, making it a key decision point.
💬 What’s your bias? Are you buying the breakout or waiting for confirmation? Drop your thoughts in the comments! 👇
#gold #XAUUSD #forex #trading #supplyanddemand #pricetrading
🔥 Key Technical Levels
🔹 Major Support Zone: $2,979 – $3,011 (Strong demand area, where buyers stepped in)
🔹 Mid-Range Resistance: $3,061 (Key reaction level; breakout here could fuel more upside)
🔹 Major Resistance Zone: $3,141 – $3,160 (Supply zone; strong seller interest in this area)
📉 Price Action Breakdown
✅ Gold recently dropped into a high-volume demand zone (orange area) around $2,979, where buyers aggressively pushed the price back up.
✅ Now, price is approaching $3,061, a key pivot level. If bulls break above this, a push toward $3,141 becomes highly likely.
✅ If price struggles to break $3,061, we could see a retest of $2,979 before another potential bounce.
📢 Trading Plan & Market Outlook
🔹 Bullish Scenario: A strong close above $3,061 could open the door for a rally toward $3,141 – $3,160. Traders may look for breakout buys above $3,061 with stop-losses below recent swing lows.
🔹 Bearish Scenario: If price fails to break $3,061, sellers could regain control and push gold back toward $2,979, making it a key decision point.
💬 What’s your bias? Are you buying the breakout or waiting for confirmation? Drop your thoughts in the comments! 👇
#gold #XAUUSD #forex #trading #supplyanddemand #pricetrading
Trade active
Gold is still in buying mode almost hit TP 1.Keep Eye on GoldTrade closed: target reached
Xauusd has hit take profit 1
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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.