20/08/2026
Gold has surged strongly on the 1H chart, breaking above the previous local resistance level at $4,430 - $4,450. The green moving average is sloping upward, signaling strong bullish momentum. Price is currently pulling back to retest this broken resistance as a potential new support floor before aiming for the next liquidity pool overhead.
📋 TRADE SETUP:
📍 Entry (Long): Following the red arrow projection, look for a pullback into the $4,430 - $4,450 grey support zone. Wait for bullish price action confirmation (such as rejection wicks or reversal candle patterns) on lower timeframes before entering long.
🎯 Target: The major structural resistance and liquidity pool at $4,580 - $4,600.
🛑 Invalidation: A clean 1H candle close back below the $4,430 support level. Re-entering the previous consolidation range negates the immediate bullish breakout continuation.