We’re looking at Gold vs USD on the 1-hour chartPrice recently completed a deep pullback after a strong bullish leg.
That pullback formed a rounded / cyclical bottom (purple curve), which often signals trend continuation, not reversal.
🧠 Structure & Price Action
What stands out:
Higher low formed after the sell-off → bullish market structure
Strong impulsive bullish candles off the lows → buyers in control
Price reclaimed and is holding above a key mid-range level (~4960)
This tells us:
The correction phase is likely complete, and price is transitioning back into an impulse phase upward.
🎯 Trade Idea (Based on Your Chart)
✅ Entry
Buy around 4,960 – 4,970
This is a pullback entry inside bullish continuation
🛑 Stop Loss
Below the recent structure low
Around 4,840 – 4,860
If price breaks here, the bullish idea is invalidated
🎯 Target
5,050 – 5,100 zone
This aligns with:
Prior resistance
Projected impulse leg (measured move)
Liquidity resting above highs
Risk–Reward:
Roughly 1:2.5 to 1:3, which is solid for an intraday/swing setup.
🔍 Why This Setup Makes Sense
Bullish continuation after correction
Structure shift confirmed (higher low)
Strong momentum candles
Clear invalidation level (clean risk)
The blue projected path you drew fits perfectly with a pullback → continuation → expansion model.
⚠️ Invalidation Clue
If price:
Breaks and closes below the stop zone
Or starts printing lower highs + strong bearish momentum
→ bullish bias is off, and we reassess.
Short
