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472X – Key Structure Level: Hold = Bearish, Break = Reversal
472X – Key Structure Level: Hold = Bearish, Break = Reversal
Gold / U.S. Dollar FOREXCOM:XAUUSD
Context
Gold has just made a strong breakout above the 4600–462X resistance, mainly driven by Trump’s statement about potentially ending the Iran conflict within 2–3 weeks.
This news boosted market sentiment and pushed price higher, now approaching the key resistance zone at 472X–4750.
📈 Current Trend
Short-term: Strong bullish momentum
Mid-term: Testing key resistance
🎯 Key Levels
Resistance: 4735–4750 | 4848–4853 | 4900–4912 | 5000
Support: 4650 | 4614 | 4530 | 4485
⚔️ Trading Plan (SELL Bias)
SELL around 4735–4750
SL: 4770 (~20 points)
TP: RR 1:1 → 1:2 → 1:5
❌ Invalidation
Strong break above 4740 → stop SELL
→ Look for SELL opportunities at higher resistance zones
🔄 Reversal Scenario
If price holds firmly above 4740
→ Potential continuation to BUY towards 4800
📌 Conclusion
472X–4750 is the decision zone.
Hold → SELL bias | Break → follow BUY
💬 Your View?
Which side are you on here?
👉 SELL at 47XX or wait for breakout to BUY?
Drop your view + entry level below, let’s compare setups.
Follow for upcoming updates (especially before Non-farm).
I’ll update immediately if market structure breaks.
source https://www.tradingview.com/chart/XAUUSD/xQ9BnIry-472X-Key-Structure-Level-Hold-Bearish-Break-Reversal/
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