Gold (XAUUSD) is currently moving strongly at 4,140.92 on the 5-minute timeframe, approaching equal highs (EQH) at 4,141.00 to create a perfect setup according to the Smart Money Concept (SMC) strategy:
- Price saw a sharp rebound from the lower Discount zone below 4,110, making a strong move upward.
- We can see several bullish fair value gaps (FVG+) forming, confirmed during the recent meteoric rally.
- The price is nearing a break above the red resistance line to sweep the upper liquidity (EQH), then head straight toward the main Order Block zone at 4,150.
🎯 Trading recommendation for the market open:
• Trade type: Buy (LONG) on any corrective pullback
• Preferred entry zone: 4,132 - 4,138
• First target (TP1): 4,150
• Second target (TP2): 4,162
• Stop loss (SL): A 5-minute candle close below 4,124
💡 Risk management: Remember that the market open may bring high volatility and sharp swings. Use a small position size and risk no more than 1% of your account. What are your expectations for the opening move? Share them with us!
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