Leg 2 in Progress? | All Eyes on the Possible EDGE around 3400

4 gün önce

💡 GOLD 4H – MJTrading:
After forming a clean Leg 1 followed by a technical pullback into support, Gold has initiated Leg 2, pushing upward toward the next possible EDGE: 3400.

🟠 Why 3400 Matters
This zone is not just a round number:
It aligns with the long-term downtrend coming from the ATH (3500)
It’s the last reaction high before a deeper correction
There’s likely liquidity resting above — it’s where smart money may make decisions
This is where structure and psychology meet.
And end of 2 possible 2nd leg...

🔄 Possible Scenarios:
🟥 Scenario A – Rejection from the Edge (if could reach):
A reaction from this zone could lead to a pullback toward:

1st Support around 3340-3360
2nd Support near 3250 (also the uptrend line from 3000)
Use these zones to reassess momentum.

🟩 Scenario B – Breakout Above 3400:
A clean break above this structural edge opens the path for:

An “Edge to Edge” move back toward ATH (3500)
Possible higher timeframe trend shift — especially if retest holds

🧠 Our Strategy
We’re long-biased into the edge, not beyond it yet.
Let 3400 show its hand — we stay adaptive, not predictive.

🔍 This chart is intentionally detailed — it's built to educate, not just signal.
Focus on structure, sequence, and behavior — not just levels.

Lets Zoom in around the Breakout area...


And a Zoomout to Daily...


🧭 “If the structure speaks to you, let it echo.”
– MJTrading 🚀

📍#Gold #XAUUSD #TradingView #TechnicalAnalysis #ChartDesigner #MJTrading #MarketStructure #ForexIdeas #Edge

4 gün önce

Not

Is it the end of Pullback or still being continued?

4 gün önce

Not