XAU/USD: A Swing Long Setup Amidst Persistent Bullish Trend

XAU/USDLongSwing1w ago13 views

Trade Setup

Entry Price

2925.00

Stop Loss

2900.00

Take Profit

2976.00

Risk : Reward

1 : 2.04

RiskReward

Market Overview & Technical Confluence


Good morning from Izmir, KoraFX community! My focus today, as often, is on XAU/USD. We've seen gold maintain its strong bullish trend, currently trading around 2930.53. The price has shown resilience, holding above its immediate support levels, with a 0.36% gain over the last 24 hours. The day range has been between 2914.74 and 2946.32, indicating some consolidation but a clear preference for the upside.
For my swing long setup, I'm looking at the immediate support around 2914.74 and the more significant psychological level at 2900. The fact that XAU/USD has been able to stay above these levels, especially after testing the lower bound of the day range, gives me

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