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$XAU is showing a potential support retest setup after gaining 0.53% and recovering toward the $4,052 level.
Buyers may attempt to defend the $4,040–$4,050 zone, while sellers could become active near $4,060. A bullish reaction from support would be needed before considering a long position.
EP: $4,040–$4,050
TP1: $4,060
TP2: $4,070
TP3: $4,080
SL: $4,030
The setup depends on buyers holding the retest and pushing through nearby resistance. A break below $4,030 would invalidate the long idea. The estimated risk/reward to TP3 is approximately 2.5:1.
$XAU is showing a potential support retest setup after gaining 0.53% and recovering toward the $4,052 level.
Buyers may attempt to defend the $4,040–$4,050 zone, while sellers could become active near $4,060. A bullish reaction from support would be needed before considering a long position.
EP: $4,040–$4,050
TP1: $4,060
TP2: $4,070
TP3: $4,080
SL: $4,030
The setup depends on buyers holding the retest and pushing through nearby resistance. A break below $4,030 would invalidate the long idea. The estimated risk/reward to TP3 is approximately 2.5:1.