GOLD (XAU/USD) – Breakout or Deeper Pullback?

Hello, Traders! 👋
What are your thoughts on gold?

Gold remains in a robust uptrend, with each downturn providing a buying opportunity inside the trend.
The ideal strategy at this point is to wait patiently for a price pullback to support levels before starting a buy position.
Another method is to wait for a break above the most recent high before buying on a pullback to the broken level.
The bullish trend continues, but trades must be performed with correct risk management and confirmation indications.

What is your opinion on gold? Do you anticipate further growth?

🚀 GOLD (XAU/USD) – Breakout or Deeper Pullback? 🔥
💰 Gold Spot (XAU/USD) - 8H Chart Analysis

🔍 Market Insights:
🔹 Strong Uptrend: Gold continues to hold its bullish momentum, respecting the ascending trendline.
🔹 Key Resistance Zone: The $2,945 - $2,960 area has been acting as a supply zone (black box).
🔹 Fibonacci Support: Price recently tested the 0.236 Fib levels ($2,902 & $2,871), which align with a key demand zone (yellow box).

📈 Two Potential Scenarios:
📌 Bullish Breakout: If price holds above the trendline & reclaims resistance, we may see a breakout towards $2,980 - $3,000 🚀.
📌 Deeper Pullback: If support breaks, we could see a correction to $2,875 - $2,850 before a stronger reversal.

📊 Key Levels to Watch:
✅ Support: $2,902 - $2,871 (Fib Levels & Trendline)
✅ Resistance: $2,945 - $2,960 (Supply Zone)

💬 Do you think gold will break out or dip before the next leg up? Drop your thoughts below! 🔥👇

#gold #xauusd #forex #trading #priceaction #technicalanalysis