Hey traders, today I’m sharing my forecast and trade setup for Gold based on the weekly timeframe.

First, keep in mind that this is a higher-timeframe setup. Because we are analyzing the weekly chart, the trade may take two to three weeks or even up to a month to reach its targets.

Looking at the overall structure of Gold, the price has been in a strong uptrend for the past several months. On the weekly timeframe, we can now see an important development: the price has broken above the trendline.

Before this breakout, Gold had been consolidating within a range and building liquidity for approximately two to three weeks. During the most recent week, we saw strong bullish buying momentum. This aggressive move can be considered bullish displacement.

The combination of strong displacement and the trendline breakout provides additional confirmation that buyers are currently showing strength. Based on this structure, we can now look for a potential entry.

The entry, stop-loss, first target, and second target are all marked clearly on the chart.

Another important factor is the higher-timeframe liquidity and points of interest. On the weekly timeframe, I do not see any major Point of Interest (POI), Fair Value Gap (FVG), Order Block, or significant market structure area that could cause a major bearish move before the price reaches the first target.

There may be smaller areas of interest on lower timeframes, but they are not strong enough, in my view, to invalidate the overall weekly bullish structure.

For this reason, there is a high probability of the price reaching the first target, as shown on the chart.

However, remember that no trading setup is guaranteed. Always use proper risk management and trade according to your own risk tolerance.

Gold Weekly Bias: Bullish 📈

Thank you for reading, and trade safely.