XAU/USD Buy Setup Explanation (Using Fibonacci Levels)

30 May

This chart presents a bullish trading setup on gold (XAU/USD) based on a Fibonacci retracement strategy. It suggests a buy opportunity after a pullback.

✅ Fibonacci Levels:
> 0.0% (Top): $3,331 – recent swing high (used as reference)

> 23.6%: $3,312 – minor resistance zone

> 38.2%: $3,297 – initial pullback area

> 50.0%: $3,290 – psychological mid-level

> 61.8% (Golden Ratio): $3,280 – key Fibonacci support

> 78.6%: $3,266 – deeper retracement support

> 100% (Bottom): $3,249 – recent swing low

🟪 Buy Zone (Between 50% and 61.8%):
The marked BUY ZONE is between $3,290 and $3,280, aligning with the Fibonacci golden pocket.

This is a high-probability reversal area, as it combines:

Strong Fibonacci confluence (50%–61.8%)

Prior price reaction zones (structure-based support)

: TP1: $3,320 – aligns with previous structure zone and 23.6% retracement.

: Final Target: $3,350 – a retest of the major resistance and previous high.

📌 Conclusion:
This is a classic Fibonacci retracement long setup:

Wait for a bullish reversal pattern (e.g., pin bar, engulfing) in the buy zone.

As long as the price holds above $3,266, the bullish structure remains valid.

Ideal for swing traders looking to catch a bounce off the golden ratio support.

2 Haz

İşlem aktif

We almost achieved our TP1 3320, our setup is still valid, and we are heading towards our final target 3350.

2 Haz

İşlem kapandı: hedefe ulaştı

Congratulations Our target is about to hit. We made almost 600+ pips profit on this setup. Stay tuned for more updates