XAU/USD) Bullish trand line analysis Read The Chaptian

SMC Trading point update



Technical analysis of Gold Spot (XAUUSD) on the 4-hour timeframe, featuring key support and resistance levels, price action projections, and RSI for momentum evaluation. Here's a breakdown of the idea:

Key Points in the Analysis:

1. Support & Resistance Zones:

Big Support / Buying Zone: Around 3,222 – 3,240. This zone has seen previous bullish reversals and is supported by the 200 EMA.

Intermediate Support Level: Around 3,270–3,290, where price might bounce before attempting a breakout.

Key Resistance Level: Around 3,350–3,365. Price must break this area to move toward higher targets.



2. Price Action Projections:

The analysis shows two bullish potential scenarios:

Scenario 1: Price breaks above the resistance level directly and moves toward the target point at 3,535.83.

Scenario 2: A retracement to the lower support or even the big buying zone before a bullish rally to the same target.




3. RSI (Relative Strength Index):

Currently near the neutral zone (around 49), suggesting there's room for movement in either direction.

No extreme overbought/oversold signals right now.



4. EMA (200):

The price is currently hovering above the 200 EMA (3,222.01), which acts as a long-term support and trend indicator.


Mr SMC Trading point


Summary of the Trading Idea:

Bias: Bullish

Entry Zones: Look for long entries at either the support level (3,270–3,290) or lower buying zone (around 3,222).

Target: 3,435.05 initially, then 3,535.83.

Invalidation: A clear breakdown below the 3,222 support level could invalidate the bullish bias.



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