XAUUSD: Breakout or Just Another Trap?
Market Context
Gold is trading around 4,024 after struggling near 4,000. The market is recovering from a recent decline, while the USD remains strong due to safe-haven demand and ongoing US-Iran tensions.
Although gold has broken out of a short-term downtrend, the overall structure is not fully bullish. A strong USD and Fed uncertainty may still limit upside.
Key point: buyers must hold the reclaim support zone for this breakout to stay valid.
Technical Structure
Gold has broken the descending channel with CHOCH and BOS signals, showing improving momentum.
Key support is 3,985 - 4,010. Holding this zone could push price toward 4,060 - 4,080.
If this support fails, price may drop back to 3,960 - 3,980.
The 4,060 - 4,080 zone is the first major resistance and reaction area.
Key Levels
Current Price: 4,024
Support: 3,985 - 4,010
Demand: 3,960 - 3,980
Target: 4,060 - 4,080
Resistance: 4,100 - 4,105
Bullish Above: 4,080
Bearish Below: 3,985
Trading Plan
Buy Scenario
Entry: 3,985 - 4,010
SL: Below 3,960
TP: 4,040 / 4,060 / 4,080
Buy Breakout
Entry: Above 4,080
SL: Below 4,040
TP: 4,100 / 4,120 / 4,140
Sell Scenario
Entry: 4,060 - 4,080
SL: Above 4,105
TP: 4,024 / 4,010 / 3,985
Breakdown Sell
Entry: Below 3,985
SL: Above 4,010
TP: 3,960 / 3,940 / 3,920
Overall Bias
Gold shows short-term recovery but remains fragile.
Holding above 3,985 - 4,010 keeps bullish potential toward 4,060 - 4,080. Losing this zone shifts control back to sellers.
Best approach: wait for confirmation at support or resistance. Avoid chasing below 4,080.
Will this breakout hold, or turn into another trap?
Market Context
Gold is trading around 4,024 after struggling near 4,000. The market is recovering from a recent decline, while the USD remains strong due to safe-haven demand and ongoing US-Iran tensions.
Although gold has broken out of a short-term downtrend, the overall structure is not fully bullish. A strong USD and Fed uncertainty may still limit upside.
Key point: buyers must hold the reclaim support zone for this breakout to stay valid.
Technical Structure
Gold has broken the descending channel with CHOCH and BOS signals, showing improving momentum.
Key support is 3,985 - 4,010. Holding this zone could push price toward 4,060 - 4,080.
If this support fails, price may drop back to 3,960 - 3,980.
The 4,060 - 4,080 zone is the first major resistance and reaction area.
Key Levels
Current Price: 4,024
Support: 3,985 - 4,010
Demand: 3,960 - 3,980
Target: 4,060 - 4,080
Resistance: 4,100 - 4,105
Bullish Above: 4,080
Bearish Below: 3,985
Trading Plan
Buy Scenario
Entry: 3,985 - 4,010
SL: Below 3,960
TP: 4,040 / 4,060 / 4,080
Buy Breakout
Entry: Above 4,080
SL: Below 4,040
TP: 4,100 / 4,120 / 4,140
Sell Scenario
Entry: 4,060 - 4,080
SL: Above 4,105
TP: 4,024 / 4,010 / 3,985
Breakdown Sell
Entry: Below 3,985
SL: Above 4,010
TP: 3,960 / 3,940 / 3,920
Overall Bias
Gold shows short-term recovery but remains fragile.
Holding above 3,985 - 4,010 keeps bullish potential toward 4,060 - 4,080. Losing this zone shifts control back to sellers.
Best approach: wait for confirmation at support or resistance. Avoid chasing below 4,080.
Will this breakout hold, or turn into another trap?
Trade active
📌 Owen Steele · XAUUSD · SMC · Order Blocks · Liquidity
🕐Weekly outlook every Monday t.me/+up9c00DV6so3NWQ9
💬 Deeper analysis & real-time updates
🔔 Boost if this helped · t.me/+up9c00DV6so3NWQ9
🕐Weekly outlook every Monday t.me/+up9c00DV6so3NWQ9
💬 Deeper analysis & real-time updates
🔔 Boost if this helped · t.me/+up9c00DV6so3NWQ9
Related publications
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.
📌 Owen Steele · XAUUSD · SMC · Order Blocks · Liquidity
🕐Weekly outlook every Monday t.me/+up9c00DV6so3NWQ9
💬 Deeper analysis & real-time updates
🔔 Boost if this helped · t.me/+up9c00DV6so3NWQ9
🕐Weekly outlook every Monday t.me/+up9c00DV6so3NWQ9
💬 Deeper analysis & real-time updates
🔔 Boost if this helped · t.me/+up9c00DV6so3NWQ9
Related publications
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.