The Gold market is currently exhibiting a textbook bullish trend following a significant structural shift. After a period of accumulation near the Support zone ($4,200 - $4,350), we witnessed an Int-CHoCH that flipped the narrative from bearish to bullish.
Key Technical Factors:
Market Structure: We have seen consecutive Break of Structure (BOS) to the upside, confirming that buyers are firmly in control. The higher highs and higher lows are respecting a well-defined ascending trendline.
RBS (Resistance Become Support): The price has successfully cleared previous supply zones (pink boxes) and is now utilizing them as floors. The current price action at $4,714 shows a retest of the latest flip zone.
Projected Path: If the current liquidity tap completes, we anticipate a impulsive wave toward the $5,015 target. This aligns with a major psychological level and measured move projections from the previous consolidation range.
Trade Sentiment:
Long Bias. We are looking for price stability above the $4,650 region to maintain this trajectory. A failure to hold the ascending trendline would neutralize this outlook, but for now, the technicals point toward the 5k mark.
Risk Warning: Gold is highly volatile. Always manage your risk and wait for confirmation on lower timeframes before executing.
Key Technical Factors:
Market Structure: We have seen consecutive Break of Structure (BOS) to the upside, confirming that buyers are firmly in control. The higher highs and higher lows are respecting a well-defined ascending trendline.
RBS (Resistance Become Support): The price has successfully cleared previous supply zones (pink boxes) and is now utilizing them as floors. The current price action at $4,714 shows a retest of the latest flip zone.
Projected Path: If the current liquidity tap completes, we anticipate a impulsive wave toward the $5,015 target. This aligns with a major psychological level and measured move projections from the previous consolidation range.
Trade Sentiment:
Long Bias. We are looking for price stability above the $4,650 region to maintain this trajectory. A failure to hold the ascending trendline would neutralize this outlook, but for now, the technicals point toward the 5k mark.
Risk Warning: Gold is highly volatile. Always manage your risk and wait for confirmation on lower timeframes before executing.
Trade active
Trade Parameters:Entry Zone: $4,740 – $4,760 (Current Market Price)
Stop Loss: Below $4,640 (Invalidates the trendline and recent swing low)
Primary Target: $5,015.56 (Major psychological level)
Secondary Target: $5,200+ (Trailing SL once 5k is cleared)
Key Note:
The trend remains firmly bullish as long as the structural support at $4,700 holds on a daily closing basis. Watch for any volatility around the $4,850 level, which acted as a minor local resistance recently. If we clear $4,900, the run to the $5,000 target should accelerate.
Risk Disclaimer: Trading carries significant risk. Always manage your position size and never risk more than you are prepared to lose.
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🏛️ XAUUSD | SMC & ICT
💎 VIP: 8-10 Daily Sniper Signals ➔
t.me/+wsTB6EFFcpgzZDQ0
📢 Free Community ➔ t.me/+I27cRTl31Zk0YzA0
💎 VIP: 8-10 Daily Sniper Signals ➔
t.me/+wsTB6EFFcpgzZDQ0
📢 Free Community ➔ t.me/+I27cRTl31Zk0YzA0
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.