XAUUSD TECHNICAL ANALYSIS LONG TRADE IDEA CHECK CAPTAIN

This chart suggests a potential bullish reversal setup for gold (XAU/USD) on the 1-hour timeframe.

Key Observations:

1. Support Zone (Around 2,885 - 2,908):

The price recently dropped but found support around 2,885.926, suggesting possible buyer interest.

A horizontal support line indicates this level has been tested.



2. Potential Reversal & Upside Target:

A V-shaped recovery is anticipated, shown by the sharp upward arrow.

The price could first retest support before a strong bullish push toward 2,960.000, aligning with the previous trendline.



3. Red Resistance Zone (Above 2,920):

Previous price action faced resistance here, making it a key area to watch for confirmation of the bullish move.




Possible Trade Idea:

Entry: Around 2,885 - 2,908 if price confirms support.

Target: 2,960 (or adjust based on structure).

Stop Loss: Below 2,885 to limit downside risk.