Buy opportunity

XAU/USD (Gold) Trading Signal – 4H Chart
Overview:
Gold is showing bullish momentum as it approaches key levels. The price has tested and bounced from a support zone, aligning with an upward trend and supported by the 252 EMA. Based on this analysis, we propose a long (buy) trade.

Trade Setup:
Instrument: XAU/USD (Gold CFDs)
Trade Type: Long (Buy)
Entry Zone: $2,663.20 - $2,665.00
Stop Loss: $2,636.00 (Below key support zone and 252 EMA)
Take Profit: $2,720.00 (Resistance level)
Risk/Reward Ratio: 1:2.05
Analysis:
Support Zone: Price has repeatedly bounced near $2,636.00 - $2,640.00, indicating strong demand.
Resistance Zone: The target level $2,720.00 aligns with prior highs and Fibonacci extensions.
Indicators: The 252 EMA is trending upward, supporting the bullish scenario.
Volume Profile: Strong accumulation in the highlighted zone suggests buying interest.
Expected Move:
If Gold sustains above $2,665.00, we expect a rally toward the $2,720.00 resistance zone, providing a solid risk-reward setup.