XAUUSD Analysis: Potential Rounded Bottom Reversal Targeting $4,
This 30-minute chart analysis of Gold (XAUUSD) shows a clear shift in market structure. After a sustained bearish trend highlighted by the early June sell-offs, price action has formed a massive rounded bottom setup.
A long position is being framed from the current support levels near $4,300. With a tight stop loss placed just below the recent swing low at $4,271, this risk-to-reward setup targets a retest of the major resistance liquidity pool at $4,473.47. Watch for a confirmed bullish breakout past the immediate overhead structure to validate the upward trajectory.
A long position is being framed from the current support levels near $4,300. With a tight stop loss placed just below the recent swing low at $4,271, this risk-to-reward setup targets a retest of the major resistance liquidity pool at $4,473.47. Watch for a confirmed bullish breakout past the immediate overhead structure to validate the upward trajectory.
Trade active
Trade closed: target reached
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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.