Gold (XAU/USD) has recently shown strong bullish momentum, moving upward from a "Strong Support Area" and a lower "Golden Zone." The price is currently consolidating just below a significant resistance area, the 1st TG (Target), which is also labeled as a "Golden Zone." This presents a potential high-probability setup.
My analysis suggests that the current consolidation is a period of accumulation before the next leg of the uptrend. The key to a successful trade here will be a confirmed breakout above the 1st TG. This would indicate that buyers have absorbed the selling pressure at this resistance and are ready to push the price higher.
Bullish Scenario: The primary scenario I'm watching is a breakout above the 1st TG and its corresponding "Golden Zone" resistance. A clear 4-hour candle closing above this area would be a strong bullish signal.
Bearish Scenario: A failure to break the resistance, followed by a sharp move back down below the current consolidation level (1st SUP), would invalidate the bullish thesis and suggest a potential deeper retracement.
Trading Plan:
Long Entry: Enter a long position on a confirmed breakout and close above the 1st TG (Golden Zone) resistance level.
Profit Target 1: The 2nd TG level, which sits at the top of the chart.
Stop Loss: A stop loss should be placed below the 1st SUP level to protect against a false breakout or a reversal.
My analysis suggests that the current consolidation is a period of accumulation before the next leg of the uptrend. The key to a successful trade here will be a confirmed breakout above the 1st TG. This would indicate that buyers have absorbed the selling pressure at this resistance and are ready to push the price higher.
Bullish Scenario: The primary scenario I'm watching is a breakout above the 1st TG and its corresponding "Golden Zone" resistance. A clear 4-hour candle closing above this area would be a strong bullish signal.
Bearish Scenario: A failure to break the resistance, followed by a sharp move back down below the current consolidation level (1st SUP), would invalidate the bullish thesis and suggest a potential deeper retracement.
Trading Plan:
Long Entry: Enter a long position on a confirmed breakout and close above the 1st TG (Golden Zone) resistance level.
Profit Target 1: The 2nd TG level, which sits at the top of the chart.
Stop Loss: A stop loss should be placed below the 1st SUP level to protect against a false breakout or a reversal.
Trade active
🚨 BCORP GOLD MARKET UPDATE — August 7, 2025 🚨🟢 Current Price: $3,387
🔍 Trend: Bullish continuation after defending the 1st SUP zone.
Key Levels:
✅ 1st Target (1ST TG): $3,390 — price is testing this resistance now
✅ Golden Zone Above: $3,408
✅ 2nd Target (2ND TG): $3,427
Support Levels:
🔹 1st SUP: $3,365 (holding strong)
🔹 2nd SUP: $3,340
🔹 3rd SUP: $3,305
🔹 Golden Support Zone: $3,287 - $3,244
🟦 Strong Support Area near $3,300 still holding the bullish structure intact.
⏰ 4H Chart Bias:
Price is consolidating below the first target and looks set to break higher if momentum picks up. A clean break above $3,390 can unlock moves toward the golden resistance zone ($3,408), while failure to hold above $3,365 could see a retest of deeper supports.
📊 Outlook: Stay cautiously bullish above the 1st SUP, aiming for the 1ST TG and golden zone upside levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.