🌟 3-Day Trading Plan for XAU/USD
Day 1: Accumulation and Testing Boundaries
Today, the market is likely to consolidate within the current range. The main focus is on the buyers' ability to hold positions near current levels. The primary task for bulls is to defend the support zone at $4,202.40, while attempts to test the resistance at $4,313.67 may come with increased volatility. It is recommended to observe volume reactions at these levels without opening hasty positions.
Day 2: Range Breakout or False Breakdown
Market participants are expected to become more active today, potentially attempting to break through one of the boundaries. If the price consolidates above $4,313.67 on high volume, it will trigger a bullish scenario toward targets at $4,376.04 and $4,441.34. In the absence of momentum and if buyers show weakness, a bearish scenario with a pullback to lower support levels could develop.
Day 3: Consolidating Results and Reaching Targets
The final day of the three-day cycle will focus on playing out the established trend. If an upward breakout succeeds, a retest of the cleared barriers as new support zones will occur. If the market corrects instead, this will be the optimal time to look for well-considered long entries from strong support levels ($4,202.40 and $4,157.41) on lower timeframes.
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