XAUUSD – Primary Uptrend Confirmed

21 Tem

XAUUSD – Primary Uptrend Confirmed
Gold begins the new trading week with continued distribution during the Asian session, maintaining a gradually rising sideways structure.
This week’s macroeconomic calendar is relatively light, with PMI data on Thursday. So far, expectations remain unchanged from the previous release.

📊 Technical Outlook
Price structure remains sideways with an ascending range, signalling buyers are gaining control after price bounced off the trendline late last week.

The Fibonacci retracement 0.786 level showed a short-term reaction but failed to confirm a bearish reversal — instead, bulls pushed the price higher once again.

The next target lies around the Fibonacci extension 1.618 zone, which I’ve highlighted on the chart — a potential resistance area where I anticipate a corrective pullback, in line with market sentiment.

Currently, price is fluctuating within the orange trendlines — these serve as key areas to observe for meaningful reactions.

🧠 Trade Plan for Today
✅ Scalping Buy:
Entry: 3337 – 3339
SL: 3334
TP: 3345 – 3367 – 3390

✅ Main Buy Zone:
Entry: 3328 – 3330
SL: 3324
TP: 3338 – 3345 – 3367 – 3390

⚠️ Sell Zone (only if price reaches target and shows rejection):
Entry: 3388 – 3390
TP: 3380 → 3365 → 3340 → 3320 → 3300
(SL to be adjusted based on your risk management strategy)

💡 Conclusion
The market continues to validate the primary uptrend.
Today’s focus is on buying the dips, especially near areas of value and liquidity. Momentum remains on the bulls’ side with potential to push even higher.

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