SMC Trading point update
Technical analysis of XAU/USD (Gold) on the 1-hour timeframe. Here’s a breakdown
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Technical Analysis Summary
Descending Channel Breakout
Price action previously formed a descending wedge/channel, shown by the two black trendlines.
A bullish breakout occurred above the trendline, signaling a shift in momentum from bearish to bullish.
Key Support Zone
The yellow highlighted zone (around $3,338–$3,340) is marked as the “new key support level”.
Price is expected to retest this area (confluence with 200 EMA), which aligns with standard bullish breakout behavior.
The green arrow indicates potential bounce confirmation.
Bullish Projection
After the retest, price is projected to climb steadily toward the target point at $3,394.52.
The setup anticipates around 56.27 points upside, or roughly +1.69% gain from the support zone.
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Target
$3,394.52 – defined using the previous range breakout height and horizontal resistance.
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Trade Idea
Entry: On bullish confirmation near $3,338 support zone.
Stop Loss: Just below the yellow zone (e.g., under $3,330).
Take Profit: Near $3,394.
Mr SMC Trading point
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Conclusion
This is a classic breakout-retest-play, supported by trendline structure, a key horizontal support zone, and RSI strength. As long as price respects the highlighted support, the bullish outlook remains valid.
Please support boost 🚀 this analysis)
Technical analysis of XAU/USD (Gold) on the 1-hour timeframe. Here’s a breakdown
---
Technical Analysis Summary
Descending Channel Breakout
Price action previously formed a descending wedge/channel, shown by the two black trendlines.
A bullish breakout occurred above the trendline, signaling a shift in momentum from bearish to bullish.
Key Support Zone
The yellow highlighted zone (around $3,338–$3,340) is marked as the “new key support level”.
Price is expected to retest this area (confluence with 200 EMA), which aligns with standard bullish breakout behavior.
The green arrow indicates potential bounce confirmation.
Bullish Projection
After the retest, price is projected to climb steadily toward the target point at $3,394.52.
The setup anticipates around 56.27 points upside, or roughly +1.69% gain from the support zone.
---
Target
$3,394.52 – defined using the previous range breakout height and horizontal resistance.
---
Trade Idea
Entry: On bullish confirmation near $3,338 support zone.
Stop Loss: Just below the yellow zone (e.g., under $3,330).
Take Profit: Near $3,394.
Mr SMC Trading point
---
Conclusion
This is a classic breakout-retest-play, supported by trendline structure, a key horizontal support zone, and RSI strength. As long as price respects the highlighted support, the bullish outlook remains valid.
Please support boost 🚀 this analysis)
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Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
t.me/+zmgnHqUTiY8wMTU0
t.me/+zmgnHqUTiY8wMTU0
t.me/+zmgnHqUTiY8wMTU0
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.