XUA/USD) Bullish trand support level Read The caption

SMC trading point update



Technical analysis of (XAU/USD) on the 30-minute timeframe, incorporating a support zone and trendline confluence strategy. Here's a breakdown


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Analysis Summary

Key Technical Elements:

1. Uptrend Channel:

Price is trading within a rising channel.

Higher highs and higher lows indicate bullish momentum.



2. Support Zones:

Key Support Level (near 3,400): A horizontal support zone has been marked where price previously bounced (confirmed by green arrows).

Trendline Support: This upward sloping trendline adds confluence to the horizontal support zone.



3. EMA 200 (3,377.96):

Acts as a dynamic support level.

Price is well above the EMA, supporting bullish sentiment.



4. Projected Price Move:

The chart anticipates a dip back to the support area (~3,400), followed by a bullish bounce.

Target is clearly defined at 3,504.01, with a measured move of about +103.36 points from the support.



5. RSI Indicator:

RSI is around 57, which is neutral to slightly bullish.

No overbought/oversold signal yet – supporting potential for more upside.





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Bullish Bias Reasoning:

Confluence Zone: Horizontal + trendline + EMA 200.

Healthy Price Structure: Higher lows being maintained.

Momentum Indicator (RSI) supports continuation.



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Risks / Considerations:

If price breaks below the confluence support (~3,400), bullish invalidation may occur.

Monitor for false breakouts or heavy selling pressure near resistance.




Mr SMC Trading point

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Trading Plan

Buy Zone: Around 3,400 (support confluence).

SL: Below the trendline/EMA – e.g., 3,370 or lower.

TP: Around 3,504 (target zone marked).







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