GOLD 1H – Breakout Retest or a Fragile Bullish Hope?

3 Jul

👆🚀Boost it if you like it... (Thank you) 🚀👆

Gold has finally broken out above the descending trendline that has capped price for weeks. We’ve already seen Leg 1, an impulsive rally from the strong support zone, and a textbook retest of the broken trendline.

If bulls hold this level, a Leg 2 continuation could unfold.

Key Factors to Watch:
✅ Strong demand zone fueling the first leg up
✅ Clean breakout and retest of descending resistance
✅ Price still hovering around EMAs (15/60)

⚠️ However, the structure is fragile – lack of follow-through could trap late buyers
⚠️ If price loses the retest area decisively, sellers may reclaim control

Trading Insight:
This is a fascinating setup for bulls—but don’t fall in love with it. Stay adaptive. The market doesn’t owe us a second leg higher. Manage risk carefully and remember: probabilities, not certainties.

Trade Safely...


#MJTrading

#Gold #XAUUSD #TradingView #TechnicalAnalysis #BreakoutTrading #SupportResistance #PriceAction

4 Jul

Dagangan aktif

Seems bull has got the control...