XAU/USD: Is Gold Gearing Up for a Swing Back Up? My Setup Here

Navigating Gold's Sideways Grind

Hey KoraFX fam! Hope you're all having a solid trading week. Gold (XAU/USD) has been a bit of a tricky one lately, just grinding sideways. We're currently hanging around 2916.6, and honestly, the price action has been pretty tight, ranging between 2911.5 and 2921.7 today. It's dipped slightly, down -0.12% for the day, but that's nothing major in the grand scheme. Despite the current quiet, I'm seeing a potential swing opportunity for a long position here.

My XAU/USD Swing Trade Idea

So, my analysis points to a bounce off this lower end of the range. I'm looking to go long, entering around 2914. This level is just above the immediate support at 2911.5, which has been holding up pretty well. I’m placing my stop loss at 290