XAUUSD Gold 🥇 🪙 Current Chart Structure Trend: Overall downtrend 📉 Price is moving below the moving average / trend line Candlestick behavior: Strong bearish impulse happened on 5 March Then small retracement candles Right now price is retesting
Best Trade Plan (Professional Setup) SELL Setup (Safer Trade) Wait for retracement. Entry: 👉 5130 – 5140 Stop Loss: 👉 5180 Take Profit: TP1 → 5090 TP2 → 5065 TP3 → 5025
BUY Setup (Only if strong bounce) If price holds 5090 support Entry: 👉 5090 – 5100 Stop Loss: 👉 5055 Take Profit: TP1 → 5130 TP2 → 5160
Key candle: Today's massive green bullish engulfing / strong momentum candle closed well above the red descending trendline (resistance that capped price since late Feb). This is a high-conviction reversal signal.
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Net Outlook Next 3–7 days: Bullish continuation likely (75k–80k realistic). If NFP/CPI soft + no war escalation → test $80k “air pocket” quickly.
Overall structure: Parabolic war-driven rally (late Feb to 1 Mar) to ~5419–5450 highs, followed by a classic sharp 7–8% profit-taking correction (2–4 Mar) with oversized red impulse candles. Price broke the previous blue uptrendline, the green midline, and dropped to ~5000–5050 lows.
Technical verdict: Correction exhausted. Short-term bullish reversal confirmed with higher-low formation and channel bounce. Medium-term uptrend (war-driven) fully intact.