Market Structure:
XAUUSD remains in a strong bullish market structure, printing a series of higher highs and higher lows since early August. Price recently accelerated into a major resistance zone near 4,670–4,720 and is now consolidating just beneath that area. The primary trend is still bullish, but momentum appears to be slowing as buyers encounter overhead supply.
Key Zone:
🔴 Resistance/Supply: 4,670–4,720
🟢 Support/Demand: 4,480 area (first reaction level)
🟢 Major Demand: 4,200 area (deeper retracement zone)
Bullish Scenario:
If buyers can reclaim and close above the current resistance zone, the consolidation could act as a continuation pattern. A confirmed breakout and hold above resistance may open the door for another leg higher and continuation of the broader uptrend.
Bearish Scenario:
Repeated rejection from the resistance zone followed by a break of near-term support could trigger profit-taking. In that case, price may retrace toward the 4,480 support area, with a deeper correction potentially targeting the 4,200 zone shown on the chart.
Trade Idea:
📌 Rejection Setup:
Resistance Rejection → Bearish Confirmation Candle → Retest Failure → Continuation Lower
📌 Breakout Setup:
Break Above Resistance → Retest as Support → Bullish Continuation
Wait for confirmation rather than anticipating the move.
Invalidation:
A strong sustained breakout and acceptance above the resistance zone would invalidate the bearish retracement idea and reinforce bullish continuation.
Conclusion:
Price is testing a critical supply area after a powerful rally. The next move is likely to be determined by whether bulls can break resistance or sellers successfully defend it.
XAUUSD remains in a strong bullish market structure, printing a series of higher highs and higher lows since early August. Price recently accelerated into a major resistance zone near 4,670–4,720 and is now consolidating just beneath that area. The primary trend is still bullish, but momentum appears to be slowing as buyers encounter overhead supply.
Key Zone:
🔴 Resistance/Supply: 4,670–4,720
🟢 Support/Demand: 4,480 area (first reaction level)
🟢 Major Demand: 4,200 area (deeper retracement zone)
Bullish Scenario:
If buyers can reclaim and close above the current resistance zone, the consolidation could act as a continuation pattern. A confirmed breakout and hold above resistance may open the door for another leg higher and continuation of the broader uptrend.
Bearish Scenario:
Repeated rejection from the resistance zone followed by a break of near-term support could trigger profit-taking. In that case, price may retrace toward the 4,480 support area, with a deeper correction potentially targeting the 4,200 zone shown on the chart.
Trade Idea:
📌 Rejection Setup:
Resistance Rejection → Bearish Confirmation Candle → Retest Failure → Continuation Lower
📌 Breakout Setup:
Break Above Resistance → Retest as Support → Bullish Continuation
Wait for confirmation rather than anticipating the move.
Invalidation:
A strong sustained breakout and acceptance above the resistance zone would invalidate the bearish retracement idea and reinforce bullish continuation.
Conclusion:
Price is testing a critical supply area after a powerful rally. The next move is likely to be determined by whether bulls can break resistance or sellers successfully defend it.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.