Hello everyone, here is my breakdown of the current XAUUSD setup.
Market Analysis
Gold previously traded inside a range between 5,130 support and 5,230 resistance. A breakout above resistance briefly occurred but failed, triggering a sharp drop back toward support. After the decline, price formed a triangle structure with descending resistance and rising support.
Currently, gold also developed a short-term downward channel while approaching the 5,130 support zone, where buyers previously defended the market.
My Scenario & Strategy
As long as XAUUSD holds above the 5,130 support zone, a recovery toward the 5,230 resistance level remains possible. This level represents the main upside target and aligns with the upper resistance area where sellers previously defended the market.
However, if price breaks decisively below 5,130, the bullish recovery scenario would weaken and the market could extend the decline toward deeper support levels.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
Gold previously traded inside a range between 5,130 support and 5,230 resistance. A breakout above resistance briefly occurred but failed, triggering a sharp drop back toward support. After the decline, price formed a triangle structure with descending resistance and rising support.
Currently, gold also developed a short-term downward channel while approaching the 5,130 support zone, where buyers previously defended the market.
My Scenario & Strategy
As long as XAUUSD holds above the 5,130 support zone, a recovery toward the 5,230 resistance level remains possible. This level represents the main upside target and aligns with the upper resistance area where sellers previously defended the market.
However, if price breaks decisively below 5,130, the bullish recovery scenario would weaken and the market could extend the decline toward deeper support levels.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade chiuso manualmente
After breaking through the descending channel, gold could not hold out for long and returned to the channel and continued its downward movement!
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🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.