XAU/USD) Bullish trand analysis Read The Chaptian

SMC Trading point update



technical analysis of Gold (XAUUSD) on a 2-hour timeframe, with a bullish outlook. Here's a breakdown

1. Trend & Structure:

Uptrend Channel: Price is moving within a clear upward channel, respecting the trendline.

Higher Highs and Higher Lows: Indicates strong bullish momentum.


2. Key Zones:

Key Support Level (Yellow Box): Around $3,158.49 – this is the "safe entry point" if price pulls back.

First Entry Point: Around $3,222.76 – likely a breakout entry above a local resistance.

Target Point: $3,378.01 – a projected bullish target based on continuation.


3. Indicators:

RSI (14): Currently above 70 (overbought zone), but still climbing. There's bullish strength, but a pullback may occur soon.

200 EMA: Positioned below current price, confirming the bullish bias.

Mr SMC Trading point


4. Expected Scenarios (2 Paths):

Bullish Continuation: Price keeps rising, respecting the uptrend and hitting the target.

Pullback and Bounce: Price may retrace to the support zone or trendline, then bounce back up to target.


Summary of Idea:

This is a buy setup:

Buy at breakout above $3,222.76 (First Entry)

Safer buy at $3,158.49 (Support Re-test)

Target: $3,378.01

Watch RSI for pullback clues.


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