Hi!
Gold reveals a highly structured price action that has successfully transitioned from a consolidation phase back into a bullish setup. The market is currently consolidating above a major structural foundation, preparing for a move toward local resistance.
Technical Breakdown: The QML Foundation
The primary driver for the current bullish outlook is the development of the QML (Quasimodo Level) within the blue shaded zone. This pattern, characterized by a "fake-out" low followed by a strong recovery, indicates that institutional demand is present at these levels.
Structural Support: The price action remains well-supported by the broad "Flip area" (the gray shaded zone), which has acted as the macro floor for this entire move.
The Trade Setup & Targets
Trigger area for long position is: $4715
Intermediate Resistance: The first hurdle lies at the dashed resistance line around $4,745, which has capped recent spikes.
Primary Target: The ultimate goal for this impulse is the retest of the major resistance zone near $4,760, as highlighted by the top horizontal dashed line.
I’m excited to announce that I’m now a Brand Ambassador for AvaTrade!
Gold reveals a highly structured price action that has successfully transitioned from a consolidation phase back into a bullish setup. The market is currently consolidating above a major structural foundation, preparing for a move toward local resistance.
Technical Breakdown: The QML Foundation
The primary driver for the current bullish outlook is the development of the QML (Quasimodo Level) within the blue shaded zone. This pattern, characterized by a "fake-out" low followed by a strong recovery, indicates that institutional demand is present at these levels.
Structural Support: The price action remains well-supported by the broad "Flip area" (the gray shaded zone), which has acted as the macro floor for this entire move.
The Trade Setup & Targets
Trigger area for long position is: $4715
Intermediate Resistance: The first hurdle lies at the dashed resistance line around $4,745, which has capped recent spikes.
Primary Target: The ultimate goal for this impulse is the retest of the major resistance zone near $4,760, as highlighted by the top horizontal dashed line.
I’m excited to announce that I’m now a Brand Ambassador for AvaTrade!
Transaction en cours
📊 AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📊 AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.