How long can gold continue to prosper? OANDA by AstronautPioneer: XAUUSD — TradingView

Key Trend: Bullish

Prices are still moving within a long-term upward channel.

The recent move has broken above the short-term uptrend line → This is a signal of a technical correction, not a trend reversal, as the major trendline has not been broken.

2️⃣Resistance

5,000 – 5,005: Strong resistance
(Top of channel + distribution area)
→ Anticipated profit taking.
Confirmation of continuation of the advance requires a clear breakout and close above this area.

3️⃣ Support

4,888 – 4,890: Nearby support
(Retracement area of ​​channel trend line)

4,840 – 4,845: Strong support
(Correction of bottom + order area)
→ If this area remains unchanged, the uptrend is still valid.

4️⃣ Main scenes

Preferred scenario:
Price rebounds to support area → bullish reaction in line with trend.

Risk scenario:
Breakthrough of the 4,840 level → The bullish structure is weak, with the possibility of entering a consolidation trend or a short-term decline.

📈 Trading plan

Buy gold: 4,888 – 4,890
Stop Loss: 4,880
Take Profit: 100 – 300 – 500 pips

Gold Sell: 5,000 – 5,002
Stop Loss: 5,010
Take Profit: 100 – 300 – 500 pips