XAUUSD: Bullish Setup Targeting $4,380!
(Long Opportunity)The chart for Gold Spot (XAUUSD) on the 4h timeframe reveals a clean long setup following a potential accumulation phase.
Key Insights:
Current Price: $4,164$Entry Point: The key level is around $4,100 - 4,120}$ (marked as "Entry point"). Waiting for a pullback into this zone provides a better risk/reward.
Safety Net (Stop Loss): The "Order block" zone between $4,000 - 4,040}$ provides a strong support area. A break below $4,000$ invalidates the bullish thesis.
Profit Targets:
TP 1 (Conservative): $4,249.39}$ (Recent swing high resistance)
TP 2 (Primary): $4,382.52}$ (Major previous high/Resistance)
The Trade Plan:
Look for confirmation upon a retest of the entry zone. This setup targets a substantial move back to reclaim the previous highs. If the "Order block" holds, the path of least resistance is up.
Manage risk diligently. Not financial advice.