XAU/USD - Is this the moment ?

XAUUSD

📊 Trading Strategy Breakdown: Parabolic Support & Key Resistance Analysis 📈

In this setup, I'm capitalizing on the parabolic trendline (blue curve) acting as dynamic support, pushing the price upward toward a significant resistance zone (gray area). Here's my thought process:


1️⃣ Resistance Zone Reaction
The gray zone marks a key resistance area where sellers may step in.
I’m monitoring for a potential reversal or a breakout depending on the price action here.

2️⃣ Risk-Reward Setup
My stop-loss is placed below the parabolic support to limit downside risk.
Take-profit targets are set above the resistance zone, aiming to maximize gains in case of a breakout.

3️⃣ Confluence with Trendline
The downward-sloping trendline intersects with the resistance zone, reinforcing this area as a critical decision point.

📌 Plan

If the price shows rejection at resistance, I’ll look for shorting opportunities.
If it breaks through with volume, I’ll ride the bullish trend higher.
What’s your take on this setup? Would you trade it differently? 🤔