Gold Technical Analysis – Is a Pullback Coming?

4 giorni fa

XAUUSD is currently moving within a well-defined ascending channel, and the price is testing the upper boundary. This area acts as a dynamic resistance, and if the price gets rejected here, we could see a mild pullback back toward the support zone around 3,900.

If buyers manage to defend this support, the bullish structure remains intact and gold could attempt to push higher again. On the other hand, if support breaks, a deeper correction toward the lower boundary of the channel is possible, creating potential short opportunities for traders waiting for the right setup.

To identify an optimal entry point, watch for confirming signals such as a bullish engulfing pattern, long rejection wicks at support, or a sudden surge in buying volume. Risk management should always be your top priority. Make sure signals are clearly confirmed and apply a solid risk management strategy before entering a position.

What’s your take on this? Share your thoughts and strategies in the comments! And don’t forget, discussions in the TradingView community are a great way to sharpen your trading skills and grow together as traders.

4 giorni fa

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