XAU/USD 1H – Bullish Breakout in Play | Eyes on 3,400+

XAU/USD has officially broken out of a falling wedge pattern, triggering a classic bullish continuation setup. The rejection off the 0.618–0.705 fib retracement zone ($3,280–$3,290) acted as a powerful launchpad, pushing price above the mid-structure confluence and EMAs.

✅ Key Technical Highlights:

Structure Break: Clear bullish breakout from descending wedge + EMA crossover confirmation (20/50 over 200).
Fibonacci Anchors: Price respected the golden pocket (0.618–0.705), now aiming for full fib extension targets.

Targets:

🎯 TP1: 3,397 (-0.27 fib)
🎯 TP2: 3,440 (-0.618 fib / upper wedge trend-line resistance)

Support Zone: 3,304 – 3,319 (0.5–0.382 fib zone), now acting as fresh demand area.

RSI: Rebounding from 50 with momentum, no divergence, suggesting room for continuation.

🔔 Bullish Scenario:

As long as price holds above the breakout retest zone (≈3,336), momentum favors the bulls with high probability toward 3,400+. Clean higher highs and higher lows confirm trend alignment.

⚠️ Invalidation Level:

Break and close back below 3,304 would shift this from breakout to fakeout — watch for bearish pressure toward 3,280 if that occurs.

📌 Wright Way Outlook:

Momentum is on the side of the bulls. With fundamentals aligned and structure broken, this setup favors precision swing entries with clean RR.

Stay patient, stay tactical. Trade the Wright Way.

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Correction in title 4H

액티브 트레이드

TRADE ACTIVE

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Patience is king