XAU/USD) orderblok key Support Analysis Read The Chaptian

SMC Trading point update


technical analysis of Gold Spot against USD (XAUUSD) on the 1-hour timeframe. Here's a breakdown of the key ideas presented:

Chart Analysis Summary:

1. Price Zones:

Supply Zone (Resistance): Around the 3,355–3,365 level.

Demand/Support Zone (Doer Block Support Level): Around 3,282–3,291.



2. Current Price Action:

Price is currently at $3,331.96, close to the supply zone, and bouncing between the zones.

There’s a sharp downtrend, which seems to be slowing down near the support level.



3. Projected Move:

The chart suggests a short-term dip back into the demand/support zone, followed by a bullish reversal.

Target Point: A move back up toward $3,498.36, which is marked as a significant resistance.



4. Technical Indicators:

RSI (Relative Strength Index): Currently around 36.64 and recovering, suggesting potential bullish divergence or an oversold condition.

200 EMA: Around $3,291.52, providing dynamic support — aligning with the lower demand zone.

Mr SMC Trading point


Trade Idea:

Buy Setup (Long Trade):

Entry: Near 3,282–3,291 (support zone).

Target: 3,498.36.

Stop Loss: Below the support zone (~3,270).



Overall Idea:

This is a reversal-based setup. The price is expected to retest the support before launching a bullish leg toward the target. The confluence of the EMA, support zone, and RSI near oversold adds weight to the potential for a bounce.




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