XAUUSD is attempting to recover after a strong sell-off from the resistance zone, with price currently testing the compression channel breakout. Structure highlights a descending sequence with a lower high, flag formations, and a downward trendline keeping the sideways tone intact. If the breakout holds above the compression channel, price could push toward 3,380, but rejection may open room back into deeper support. Broader momentum shows a corrective bearish leg softening, with potential bullish relief rally if buyers defend current levels.📉 Key Levels:
- Buy trigger: Sustained breakout above 3,320 support-turned-resistance.
- Buy zone: 3,320–3,330, if buyers maintain control after breakout.
- Target: 3,380 near-term resistance.
- Invalidation: Breakdown below 3,250 would negate bullish setup.
💡 Risks:
- Failure to sustain breakout, leading to continuation of the downtrend.
- Strong USD momentum from macroeconomic releases could weigh on gold.
- Geopolitical risk shifts that reprice safe-haven demand unpredictably.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
Trade active
XAUUSD is rebounding from the support area after forming an inverse head and shoulders reversal pattern inside a broader flat trend. The structure shows a breakout above the descending trendline, signaling potential bullish momentum after consolidation. As long as the neckline breakout holds, price can extend higher toward the resistance zone near 3,350–3,380. Broader momentum indicates a possible shift from bearish compression into a bullish recovery phase.Trade closed: target reached
Great end of the week! Nicely delivered +500p
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🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.