XAU/USD:Post-Rally Retracement Holding Key Support for Bullish ?
Key Observations:
Prior Bullish Momentum: The price experienced a significant, sharp uptrend leading up to the current area of consolidation/correction.
Support Zone: The price has recently dropped into and bounced from a highlighted Support zone, approximately between $4,100 and $4,115. This zone aligns with a previous resistance level that was broken, often serving as new support ("S/R flip").
Correction and Bounce: The move into the support zone looks like a correction or retracement of the strong previous rally. The bounce from this area indicates buyers stepping in, confirming the support.
Forecast (Projected Move): The green arrow and accompanying line suggest a bullish continuation trade setup. The expectation is that the price will move up from the support area to test the recent high, labeled as the Target at approximately $4,140.
Prior Bullish Momentum: The price experienced a significant, sharp uptrend leading up to the current area of consolidation/correction.
Support Zone: The price has recently dropped into and bounced from a highlighted Support zone, approximately between $4,100 and $4,115. This zone aligns with a previous resistance level that was broken, often serving as new support ("S/R flip").
Correction and Bounce: The move into the support zone looks like a correction or retracement of the strong previous rally. The bounce from this area indicates buyers stepping in, confirming the support.
Forecast (Projected Move): The green arrow and accompanying line suggest a bullish continuation trade setup. The expectation is that the price will move up from the support area to test the recent high, labeled as the Target at approximately $4,140.
Operación activa
Operación cerrada: objetivo alcanzado
Trade setup performed as planned. Currently up over 300 pips and maintaining strong momentum.
📊 Professional Forex & Gold Analyst | Trading pure price action and high-probability market structure. Daily 4–5 quality trade setups with disciplined risk management. Join: t.me/+NJDp2aIM3QphYWNk| Contact: @fx_martin9
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📊 Professional Forex & Gold Analyst | Trading pure price action and high-probability market structure. Daily 4–5 quality trade setups with disciplined risk management. Join: t.me/+NJDp2aIM3QphYWNk| Contact: @fx_martin9
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.