On the XAUUSD chart, Gold recently completed a significant structural shift. After a prolonged descending corrective channel, price found solid support around the 4,310 - 4,320 demand region (marked by a Weak Low swing bottom).
Price subsequently broke out of the descending trendline with strong momentum, triggering a Change of Character (CHoCH) followed by a Break of Structure (BOS) to the upside. The background trend tracker has shifted from bearish (pink) to bullish (cyan/green), signaling a trend reversal.
Technical Confluences
Market Structure Break: Breakout above the descending trendline with higher highs and higher lows.
Support Retest: Price is holding above the local structural support and recent Equal Lows (EQL) around 4,371.60.
Indicator Alignment: Both the Adaptive Trend Tracker (ATT) and Smart Money Concepts (SMC) indicators align with a bullish bias following the buy confirmation off the lower boundary.
Trade Parameters & Execution Plan
Bias: Bullish Continuation
Entry Zone: 4,371.00 – 4,376.00 (Local support retest)
Invalidation / Stop Loss: Below local structure at 4,360.00
Target 1 (TP1): 4,400.00 (Equal Highs / Resistance Supply Zone)
Target 2 (TP2): 4,440.00 – 4,450.00 (Major Supply Zone / Strong High)
Risk-to-Reward Ratio (RRR): ~1:2.5
Risk Management Disclaimer
Always wait for lower timeframe candle confirmations (e.g., bullish reaction or micro CHoCH) before entry. Apply proper position sizing to manage risk effectively.
Price subsequently broke out of the descending trendline with strong momentum, triggering a Change of Character (CHoCH) followed by a Break of Structure (BOS) to the upside. The background trend tracker has shifted from bearish (pink) to bullish (cyan/green), signaling a trend reversal.
Technical Confluences
Market Structure Break: Breakout above the descending trendline with higher highs and higher lows.
Support Retest: Price is holding above the local structural support and recent Equal Lows (EQL) around 4,371.60.
Indicator Alignment: Both the Adaptive Trend Tracker (ATT) and Smart Money Concepts (SMC) indicators align with a bullish bias following the buy confirmation off the lower boundary.
Trade Parameters & Execution Plan
Bias: Bullish Continuation
Entry Zone: 4,371.00 – 4,376.00 (Local support retest)
Invalidation / Stop Loss: Below local structure at 4,360.00
Target 1 (TP1): 4,400.00 (Equal Highs / Resistance Supply Zone)
Target 2 (TP2): 4,440.00 – 4,450.00 (Major Supply Zone / Strong High)
Risk-to-Reward Ratio (RRR): ~1:2.5
Risk Management Disclaimer
Always wait for lower timeframe candle confirmations (e.g., bullish reaction or micro CHoCH) before entry. Apply proper position sizing to manage risk effectively.
Note
Price subsequently broke out of the descending trendline with strong momentum, triggering a Change of Character (CHoCH) followed by a Break of Structure (BOS) to the upside. The background trend tracker has shifted from bearish (pink) to bullish (cyan/green), signaling a trend reversal.Note
On the XAUUSD chart, Gold recently completed a significant structural shift. After a prolonged descending corrective channel, price found solid support around the 4,310 - 4,320 demand region (marked by a Weak Low swing bottom).Trade active
Trade closed: target reached
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.