XAU/USD) back up Trand analysis Read The Chaptian

15 May

SMC Trading point update



Technical analysis for XAU/USD (Gold vs. US Dollar) on the 4-hour timeframe suggests a bullish reversal setup from a key support zone. Here's a breakdown of the idea:

Key Observations:

1. Support Zone (Yellow Box at ~3,100–3,140):

The price recently touched a significant support area marked by multiple previous bounces (green arrows).

The latest green arrow shows a bullish reaction from this zone, indicating potential for an upward move.



2. Resistance Zone (~3,220–3,250):

This intermediate zone is expected to be the first area of interest for bulls.

The analysis suggests a brief pullback or consolidation before continuation.



3. Target Point (~3,375):

The chart outlines a projected move to around 3,375, aligning with a previous supply zone and the upper channel line.

This is likely the main target for a swing trade.



4. EMA 200 (Blue Line - ~3,221):

Price is hovering around the 200 EMA, acting as a dynamic resistance.

A breakout above this would add bullish confirmation.



5. RSI Indicator (~41):

RSI is recovering from an oversold region (~38), indicating potential momentum building for a reversal.



Mr SMC Trading point

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Conclusion:

This is a bullish reversal setup with:

Entry zone: Around 3,120–3,140

Short-term resistance: ~3,220–3,250

Final target: ~3,375

Invalidation: A clear break and close below the yellow support box (~3,100)





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