Hello everyone, here is my analysis of the current XAUUSD setup.
Market Analysis
XAUUSD is trading within a broader ascending structure, supported by a well-defined trend line that continues to drive the market upward. Recent price action shows several successful breakouts from previous consolidation zones, confirming sustained bullish pressure. After an extended period of ranging, buyers regained control and pushed the market higher, respecting the overall upward trajectory.
Currently, price is moving within a narrowing formation defined by an upper resistance line and a lower support line. This developing wedge formation suggests that bullish momentum remains intact, but the market is consolidating before its next significant move. The 4,170 support zone continues to serve as a key demand area, where buyers previously stepped in and defended the bullish trend. On the other hand, the 4,300 resistance zone limits the upside and remains the primary barrier for buyers. Overall, the structure indicates that the market maintains a bullish bias as long as price stays above the support line and holds above the 4,170 support level.
My Scenario & Strategy
My scenario remains bullish as long as XAUUSD trades above the 4,170 support zone and continues to respect the rising support line within the current formation. I expect the price to attempt another move toward the 4,300 resistance zone, which aligns with the upper boundary of the wedge structure. A strong breakout above 4,300 would confirm bullish continuation and could open the path for further upward expansion.
However, if the price fails to hold the support line and breaks below the 4,170 level with clear momentum, the bullish scenario would be invalidated, potentially signaling the start of a deeper corrective phase. For now, the market structure favors a long bias, with focus on a potential movement toward the 4,300 resistance area.
That is the setup I am currently monitoring. Thank you for your attention, and as always — manage your risk!
Market Analysis
XAUUSD is trading within a broader ascending structure, supported by a well-defined trend line that continues to drive the market upward. Recent price action shows several successful breakouts from previous consolidation zones, confirming sustained bullish pressure. After an extended period of ranging, buyers regained control and pushed the market higher, respecting the overall upward trajectory.
Currently, price is moving within a narrowing formation defined by an upper resistance line and a lower support line. This developing wedge formation suggests that bullish momentum remains intact, but the market is consolidating before its next significant move. The 4,170 support zone continues to serve as a key demand area, where buyers previously stepped in and defended the bullish trend. On the other hand, the 4,300 resistance zone limits the upside and remains the primary barrier for buyers. Overall, the structure indicates that the market maintains a bullish bias as long as price stays above the support line and holds above the 4,170 support level.
My Scenario & Strategy
My scenario remains bullish as long as XAUUSD trades above the 4,170 support zone and continues to respect the rising support line within the current formation. I expect the price to attempt another move toward the 4,300 resistance zone, which aligns with the upper boundary of the wedge structure. A strong breakout above 4,300 would confirm bullish continuation and could open the path for further upward expansion.
However, if the price fails to hold the support line and breaks below the 4,170 level with clear momentum, the bullish scenario would be invalidated, potentially signaling the start of a deeper corrective phase. For now, the market structure favors a long bias, with focus on a potential movement toward the 4,300 resistance area.
That is the setup I am currently monitoring. Thank you for your attention, and as always — manage your risk!
Trade closed: target reached
Just a colossal result. We reached our target. Gold just flew up with a double impulse.
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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.
🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
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.