XAU/USD) Bullish reversal analysis Read The Chaptian

5月21日

SMC trading point update


Tchnical analysis for XAU/USD (Gold vs US Dollar) on the 4-hour timeframe, using Smart Money Concepts (SMC). Here's a breakdown of the idea behind this analysis:


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1. Trend & Structure

The previous downtrend was broken with a change of character (ChoCH), suggesting a possible bullish reversal.

After the ChoCH, the market formed bullish order blocks which have been respected, confirming the bullish sentiment.



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2. Key Levels

Support level: Around 3,220–3,240 region, coinciding with the 200 EMA, which has acted as dynamic support.

Order blocks: Several yellow zones indicate areas of institutional buying interest.

The most recent "new order block" is closer to the current price, showing a potential short-term demand zone.




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3. Price Projection

The chart suggests a bullish continuation, projecting a move towards:

Target Point 1: Around 3,350–3,349.50

Target Point 2: Around 3,408–3,407.98



These levels are likely based on prior highs or imbalance zones.


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4. RSI Indicator

RSI is above 65, showing bullish momentum, but nearing overbought territory (>70), which could signal a short-term pullback before continuation.



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5. Trade Idea (Visualized Path)

A potential small pullback into the "new order block" around 3,280 is expected.

From there, price may rally to the next supply zones or previous highs, offering a potential gain of ~1.44%.





Mr SMC Trading point
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Summary of the Idea

This is a bullish continuation setup based on:

Trend reversal via ChoCH.

Strong order block formations.

EMA 200 support.

RSI confirmation.


Traders might look to enter near the new order block (around 3,280), targeting 3,350 and then 3,408, while managing risk below the order block support.




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5月25日

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