The 15-minute chart of Gold (XAU/USD) shows a strong bullish trend, with price action forming higher highs and higher lows. Multiple Break of Structure (BOS) levels confirm continued bullish momentum, while Change of Character (CHoCH) points indicate temporary retracements. The price has respected key demand zones (highlighted in blue), particularly in the $2,980–$2,992 range, suggesting strong buy-side liquidity. Volume analysis further supports the bullish bias, as price rallies have been accompanied by increased buying interest, indicating strong institutional participation.
For potential trade setups, a buy entry around $3,000–$3,005 would be ideal if the price retraces to this zone, with a stop-loss placed below $2,992 to protect against deeper pullbacks. The first take-profit target would be around $3,014, followed by an extended target near $3,020–$3,025, aligning with the next resistance zone. Conversely, if price fails to sustain above $3,015–$3,020 and shows strong rejection, a sell setup could be considered below $3,010, with a stop-loss above $3,020 and take-profit levels at $3,000 and $2,992.
In conclusion, the market structure and volume profile favor buying on pullbacks rather than shorting at current levels, as Gold continues to exhibit bullish strength. However, a strong rejection at resistance could present a short-term selling opportunity. Traders should wait for confirmation before entering trades, ensuring alignment with the prevailing trend.
