Hi!
Market Structure Overview
Price is moving within a clearly defined ascending channel, forming higher highs and higher lows. The recent pullback corrected only about 35% of the previous bullish leg, indicating that buyers are still in control and momentum remains positive.
Key Support Zone (Green Area 4,150–4,175)
This zone represents a former supply that has now flipped into a potential demand area. Price is currently pushing into it from below, and the reaction here will determine the next major move. A clean break and hold above this zone would signal strength and open the path toward higher targets.
Breakout Scenario
If price breaks above the green resistance block, the chart suggests a bullish continuation toward the major supply zone highlighted in red (4,220). The drawn arrow implies that momentum could accelerate once the breakout confirms, aligning with the channel’s upper boundary.
Upside Target (Red Zone 4,220)
This red area represents a strong supply where sellers previously stepped in aggressively. Should price reach this level again, some form of reaction or correction is likely.
Downside Risk
If the breakout fails and price rejects the green zone, a retracement back toward the mid-channel dashed line or even the lower channel boundary would be the next logical move.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Market Structure Overview
Price is moving within a clearly defined ascending channel, forming higher highs and higher lows. The recent pullback corrected only about 35% of the previous bullish leg, indicating that buyers are still in control and momentum remains positive.
Key Support Zone (Green Area 4,150–4,175)
This zone represents a former supply that has now flipped into a potential demand area. Price is currently pushing into it from below, and the reaction here will determine the next major move. A clean break and hold above this zone would signal strength and open the path toward higher targets.
Breakout Scenario
If price breaks above the green resistance block, the chart suggests a bullish continuation toward the major supply zone highlighted in red (4,220). The drawn arrow implies that momentum could accelerate once the breakout confirms, aligning with the channel’s upper boundary.
Upside Target (Red Zone 4,220)
This red area represents a strong supply where sellers previously stepped in aggressively. Should price reach this level again, some form of reaction or correction is likely.
Downside Risk
If the breakout fails and price rejects the green zone, a retracement back toward the mid-channel dashed line or even the lower channel boundary would be the next logical move.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Trade ativo
the first area touched:Trade fechado: objetivo atingido
Nota
#gold #xauusdthe next target touched too
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.