From TradingView · · 1m 10s
Gold trading setup targets $4,325 from bullish channel
A technical analysis identifies a buy opportunity in XAU/USD around $4,270 with a target near $4,325.
In brief
A technical analysis identifies a buy opportunity in XAU/USD around $4,270 with a target near $4,325. Wait for gold to retrace to the $4,270 buy zone within the ascending channel before entering, rather than chasing the current price. Originally reported by TradingView.
Gold moving in bullish channel
XAU/USD is trading around $4,284.90 inside an ascending channel pattern. The overall trend remains bullish on the 15-minute chart.
Entry planned at $4,270 zone
The buy zone is set at $4,270.60, where traders should wait for price to retrace and show bullish confirmation before entering.
“Buy zone / Entry: 4,270.6, wait for price to retrace into this zone and show bullish confirmation.”
Stop loss below $4,250
The stop loss is positioned at $4,250, protecting against a breakdown below the channel's lower boundary.
Target set near $4,325
The profit target sits at $4,324.90, just below the resistance zone between $4,315 and $4,325.
Liquidity sweep could strengthen setup
Sell-side liquidity exists below recent lows around $4,270 to $4,275. A sweep followed by reversal would confirm the bullish bias.
Don't chase the current price
The analysis warns against entering at current levels. Wait for the pullback to $4,270.60 for the planned entry point.
“BULLISH, but avoid chasing at the current price; the chart's planned entry is lower around 4,270.6.”
What matters most
Wait for gold to retrace to the $4,270 buy zone within the ascending channel before entering, rather than chasing the current price.
