XAU/USD) order block back up trand Read The caption

SMC trading point update



Technical analysis of Gold (XAU/USD) on the 1-hour timeframe, focusing on a potential reversal from a key support/order block zone. Here's a full breakdown

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Chart Analysis – XAU/USD (1H)

1. Key Zone: Support Level / Order Block (Yellow Box)

The price is currently testing a strong support zone that previously acted as a bullish order block (demand area).

This zone is also near a diagonal trendline and a prior breakout level, adding confluence to the setup.


2. Reversal Anticipation (Black Zigzag Path)

The chart suggests two possible scenarios from the support area:

A bullish bounce leading price up toward:

Target 1: 3,343.05 (near 200 EMA)

Target 2: 3,364.62 (upper resistance)


A break below the yellow support zone, triggering a deeper move toward:

Key support: 3,247.55




3. RSI Oversold Signal

RSI (14) is at 32.66, which is near oversold territory, signaling potential for a bullish reversal if buying pressure steps in.


4. EMA (200 - Blue Line)

EMA at 3,330.95 currently acts as dynamic resistance.

If price bounces from the order block, this EMA may serve as the first reaction level before further upside.


Mr SMC Trading point
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Summary

Bias: Bullish bounce if price holds above 3,296.04 (order block support).

Entry Zone: Current price near 3,301 or confirmation bounce candle.

Targets:

TP1: 3,343.05

TP2: 3,364.62


Invalidation: Strong break and close below 3,296.04 may open the path to 3,247.55.

RSI: Favoring reversal conditions (near oversold).



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