Technical Analysis (TA):
We are witnessing a significant bullish shift on the 4-hour chart. Gold has cleanly broken out of its descending channel (blue lines) with strong conviction, signaling the end of the previous downtrend. This breakout was confirmed by a decisive Higher High (HH).Currently, the market is in an accumulation/consolidation phase (indicated by the white range box), resting just above critical support.My Bias/Prediction:
I am strongly bullish. Price is likely testing the lower end of this accumulation zone—which aligns with the previous Higher Low (HL) support zone. Once this support is reconfirmed, I expect a bounce and strong bullish expansion back toward the $4,200 level.Trading Strategy:Entry Strategy: Look for a confirmed bullish reaction (rejection candlestick patterns like Pin Bars/Engulfing bars) at the current consolidation low (around $3,980–$4,020).Targets (TPs): $4,120 (Range High) $\rightarrow$ $4,200+ (Breakout Target).Stop Loss (SL): Place SL below the previous Higher Low to protect capital.