Bullish Gold (XAU/USD) Setup with Key Support and Target Level

CANDLE MASTER UPDATE!



with a structured roadmap for a potential move upward based on price zones, fair value gap (FVG), and market structure. Here's a breakdown of the idea:

🔍 Key Elements of the Analysis:
Support Zone (Demand)

Price bounced twice off the marked support zone (~3,200 - 3,260 USD).

These reactions are supported by the 200 EMA (blue), indicating strong underlying demand.

The green arrows highlight bullish rejections from this area, showing buyers stepping in.

Fair Value Gap (FVG)

Price broke through a previous consolidation zone, now labeled as FVG (Fair Value Gap).

The recent bullish momentum filled this imbalance, suggesting strength from bulls.

Resistance Zone

Above the current level lies a resistance zone (~3,480 - 3,520 USD).

This is the next likely obstacle, and the projection shows a temporary pullback here before a continuation.

Bullish Projection

The chart outlines a potential move toward 3,634 USD, marked as the ultimate bullish target.

Two projected upward legs of 4.83% and 4.50% show how the price might move in phases:

Leg 1: From current to resistance

Leg 2: From resistance to final target

Moving Averages

50 EMA (red) is turning upward, crossing over recent candles, supporting near-term bullish bias.

200 EMA (blue) is rising, showing long-term bullish support.

🧠 Trading Insight:
A pullback to the FVG zone could provide a secondary entry (buy-the-dip).

Bullish confirmation (e.g., bullish engulfing or breakout from resistance) can strengthen conviction toward 3,634.