XAUUSD – Breakout After 33% Correction, Trend Continuation

Jan 12

Hi!

Gold is moving inside a clear ascending channel and remains firmly bullish. After a healthy 33% correction, the price reclaimed and broke above a key resistance zone, which is now acting as support.

The reaction after the breakout is clean, showing strong buyer control and continuation momentum.

Market structure:

• Price keeps making higher highs and higher lows
  
• Old resistance has flipped into support
  
• Overall trend is still strong inside the rising channel
  

🎯 First target area: 4640 – 4650


As long as the price stays above the broken resistance area, the bullish trend remains valid, and continuation toward the upper channel is likely.


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Jan 12

Trade active

Jan 13

Trade closed: target reached

the first target area has been touched