XAUUSD H4: Buy Setup Favored After the Retest
Current Market Context:
XAUUSD has broken out strongly after completing a Cup Formation accumulation pattern. After printing a swing high around 4,300, the price is now pulling back toward the breakout zone.
Key Support Zone:
The 4,215–4,230 area is the key support to watch. As long as buyers continue defending this zone, the overall bullish structure remains intact.
Primary Scenario:
If XAUUSD holds above 4,215–4,230 and prints a bullish confirmation signal, the preferred setup is a Buy, targeting the 4,350–4,360 resistance zone.
Risk Scenario:
If the price breaks and closes below 4,190, the retest will be considered invalid, and the bullish outlook will no longer be valid.
Trading Plan:
Entry: Buy at 4,215–4,230
Stop Loss: 4,190
Take Profit: 4,350–4,360