XAUUSD Price Action Update – Waves in PlayXAUUSD Price Action Update – Waves in Play
Hello traders,
As I shared yesterday in the long-term outlook for gold, the first scenario is playing out almost perfectly. Price reaction levels have been spot on, making trading much easier – and that’s exactly why detailed planning is so important when building a scenario.
Key reaction zones have already delivered profits: the buy at 3375 and the sell at 3409 both worked well. More importantly, my long-side projection is still valid, with targets at least around 3430 and potentially as high as 3450.
Following that scenario, the plan remains to look for buy entries on pullbacks, since no market goes straight up or straight down. Every move needs secondary phases of liquidity grabs and corrections.
With the current structure, buying here feels a bit “mid-range”, but with larger profit potential the risk can be justified. A buy entry around 3405 looks reasonable, while corrective short setups can be considered near 3430.
Holding onto long positions at current levels remains very logical – and remember, cultivating the right trading mindset is just as important as finding good entries.
Drop your thoughts in the comments, let’s discuss this setup together.
