XAU/USD) Back Bullish trand Read The caption

SMC Trading point update



Technical analysis of Gold (XAU/USD) on the 3-hour timeframe based on a price action setup within a rising channel and a key support zone. Here's a breakdown of the analysis:


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Technical Overview:

Trend Structure:
The price is moving within a rising channel (marked by the black trendlines). Recent touches on both the top and bottom of the channel suggest that it is being respected.

Key Support Zone (Yellow Box):
Price recently tested a strong support zone around $3,338 – $3,350, which aligns with:

Historical price reaction area.

The 200 EMA (blue line).

An uptrend line support.

A bullish reaction (green arrow) confirming demand.


Bear Trap Breakout:
There’s a false breakout below the support followed by a sharp reversal (green arrow), which could indicate a bear trap, often followed by a bullish rally.

Price Projection:

The projected move suggests a bullish rally toward $3,478.89, offering a potential 3.97% gain (~133 points).

The path includes a possible consolidation before a breakout (illustrated by the wavy arrow).


RSI Indicator:
RSI is recovering from the oversold zone (~45), indicating increasing bullish momentum.




Mr SMC Trading point

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Trade Idea Summary:

Bias: Bullish

Entry Zone: Around $3,350–$3,370 (post-retest of support)

Target: $3,478.89

Confirmation: Bullish price action at support, 200 EMA bounce, RSI reversal



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