Gold is trading around $4,119 after breaking above the descending trendline and expanding strongly from the structural low near $3,960. The impulsive move confirms that buyers are controlling the short-term structure.
Price is currently extended after reaching the projected wave (3) area. The preferred opportunity is a controlled pullback into the Immediate Demand zone at $4,040.690–$4,059.126 before the next potential bullish expansion.
SMC View
The trendline breakout and strong displacement indicate a clear structural shift from correction into bullish continuation. The Immediate Demand zone represents the origin of the latest impulsive move and remains the main decision area for buyers.
Entering near the current price would mean chasing an extended move. A retracement into demand, followed by bullish rejection and a lower-timeframe MSS or CHOCH, would provide stronger confirmation that buyers remain in control.
Main Trading Scenario
Condition:
Gold pulls back into the $4,040.690–$4,059.126 Immediate Demand zone and forms a clear bullish rejection. A lower-timeframe bullish MSS or CHOCH is required before entry.
Entry: $4,040.690–$4,059.126 after bullish confirmation
SL: Below $4,040.690 and the reaction low
TP1: $4,130–$4,135
TP2: $4,168–$4,177
TP3: $4,193–$4,202
Key Zones to Watch
Current price: $4,119
Immediate Demand: $4,040.690–$4,059.126
HTF Supply: $4,168–$4,177
Major Supply: $4,193–$4,202
Invalidation: Acceptance below $4,040.690
Confirmation: Bullish rejection with MSS or CHOCH
Prime Gold View
The buy bias remains valid while Gold protects the $4,040.690–$4,059.126 Immediate Demand zone. The preferred plan is to wait for a confirmed pullback rather than chase the current expansion.
If buyers defend demand, price could continue toward the HTF Supply and potentially the Major Supply above. Acceptance below $4,040.690 would weaken the bullish setup.
No confirmation, no trade.
Price is currently extended after reaching the projected wave (3) area. The preferred opportunity is a controlled pullback into the Immediate Demand zone at $4,040.690–$4,059.126 before the next potential bullish expansion.
SMC View
The trendline breakout and strong displacement indicate a clear structural shift from correction into bullish continuation. The Immediate Demand zone represents the origin of the latest impulsive move and remains the main decision area for buyers.
Entering near the current price would mean chasing an extended move. A retracement into demand, followed by bullish rejection and a lower-timeframe MSS or CHOCH, would provide stronger confirmation that buyers remain in control.
Main Trading Scenario
Condition:
Gold pulls back into the $4,040.690–$4,059.126 Immediate Demand zone and forms a clear bullish rejection. A lower-timeframe bullish MSS or CHOCH is required before entry.
Entry: $4,040.690–$4,059.126 after bullish confirmation
SL: Below $4,040.690 and the reaction low
TP1: $4,130–$4,135
TP2: $4,168–$4,177
TP3: $4,193–$4,202
Key Zones to Watch
Current price: $4,119
Immediate Demand: $4,040.690–$4,059.126
HTF Supply: $4,168–$4,177
Major Supply: $4,193–$4,202
Invalidation: Acceptance below $4,040.690
Confirmation: Bullish rejection with MSS or CHOCH
Prime Gold View
The buy bias remains valid while Gold protects the $4,040.690–$4,059.126 Immediate Demand zone. The preferred plan is to wait for a confirmed pullback rather than chase the current expansion.
If buyers defend demand, price could continue toward the HTF Supply and potentially the Major Supply above. Acceptance below $4,040.690 would weaken the bullish setup.
No confirmation, no trade.
Gold · SMC · 5+ years. t.me/+R38arB9C3aJhMWZl
Reading institutional footprints in XAUUSD — Order Blocks · FVG · Liquidity · Structure. Weekly outlook every Monday. Where smart money leads, we follow
t.me/+R38arB9C3aJhMWZl
Reading institutional footprints in XAUUSD — Order Blocks · FVG · Liquidity · Structure. Weekly outlook every Monday. Where smart money leads, we follow
t.me/+R38arB9C3aJhMWZl
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.
Gold · SMC · 5+ years. t.me/+R38arB9C3aJhMWZl
Reading institutional footprints in XAUUSD — Order Blocks · FVG · Liquidity · Structure. Weekly outlook every Monday. Where smart money leads, we follow
t.me/+R38arB9C3aJhMWZl
Reading institutional footprints in XAUUSD — Order Blocks · FVG · Liquidity · Structure. Weekly outlook every Monday. Where smart money leads, we follow
t.me/+R38arB9C3aJhMWZl
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.