Gold Analysis - Breakout Retest and High Probability Buy

5 giorni fa

Gold is pulling back toward the breakout zone but still holding above the key support area around 4175-4200. Anyway as long as this level holds the structure remains bullish and price can climb back toward 4245–4250 and a clean break above that opens the way toward the next targets around 4380 and 4460. Only a drop below 4175 would weaken the bullish outlook otherwise still favors continuation to the upside.

Price is still moving above the rising trendline and above multiple bullish structures, which keeps the bigger outlook strongly bullish.

Buy Setup
Buy Zone: 4205-4185 only if price shows support or a bounce
Breakout Buy: 4250 Breakout and Retest
Targets: TP1 4245–4250, TP2 4320, TP3 4380

Note
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4 giorni fa

Trade attivo

Gold has pulled back into the 4205-4185 support zone which is the exact retest area of the breakout. This zone has reacted cleanly showing signs of holding as strong demand. As long as price stays above 4185 the bullish structure remains intact and this pullback is considered a healthy retest before the next upward leg. From here a move back toward 4245 followed by 4380.