Gold Spot (XAU/USD) – Bullish Reversal Setup
📊 Timeframe: 15-Min
📉 Trend Structure:
The chart displays a descending channel pattern marked by lower highs (LH) and lower lows (LL).
Price recently broke out of the channel resistance and retested the demand zone (blue box: 3279–3287) with a bullish rejection.
🔄 Market Structure Shift:
Break of structure with higher low (HL) formation outside the channel indicates a potential bullish reversal.
EMA-70 is being reclaimed, suggesting shifting momentum.
🎯 Target:
Projected move is towards 3,319.998, aligning with a measured move breakout target (approx. 32 points gain, 0.98%).
📌 Confluences:
Demand zone bounce ✅
Trendline breakout ✅
EMA reclaim ✅
Bullish price action at support ✅
📈 Conclusion:
Price is likely to rise from the demand zone towards the 3319 target with a bullish breakout confirmation. Wait for a clean retest for optimal entry.
📊 Timeframe: 15-Min
📉 Trend Structure:
The chart displays a descending channel pattern marked by lower highs (LH) and lower lows (LL).
Price recently broke out of the channel resistance and retested the demand zone (blue box: 3279–3287) with a bullish rejection.
🔄 Market Structure Shift:
Break of structure with higher low (HL) formation outside the channel indicates a potential bullish reversal.
EMA-70 is being reclaimed, suggesting shifting momentum.
🎯 Target:
Projected move is towards 3,319.998, aligning with a measured move breakout target (approx. 32 points gain, 0.98%).
📌 Confluences:
Demand zone bounce ✅
Trendline breakout ✅
EMA reclaim ✅
Bullish price action at support ✅
📈 Conclusion:
Price is likely to rise from the demand zone towards the 3319 target with a bullish breakout confirmation. Wait for a clean retest for optimal entry.
Trade closed: target reached
Note
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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.