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Key Takeaways:
- Trend Alignment: The weekly and daily charts show a strongly bullish structure for Gold.
- Key Patterns: A potential higher low and a double bottom pattern suggest a powerful upward move.
- Trading Strategy: A classic break and retest pattern offers a high-probability continuation setup.
- Price Targets: Bullish setups aim for a $4757 profit, while high-risk bearish setups target $4650
What the technical price action on Gold (XAU/USD) telling us?
Weekly Chart
The weekly chart on Gold (XAU/USD), it continues to show a strong bullish structure, with price potentially forming a final higher low before another push to the upside.
Here is what I notice on the weekly timeframe:
- The weekly chart remains strongly bullish.
- Price is currently forming a potential higher low, which may support another move to the upside.
- If buyers maintain control, the bullish trend could continue higher.
Daily Chart
How Does the daily chart on Gold shift in momentum?
On the daily chart, momentum remains bullish as price breaks above a key resistance zone. A potential retest of this area as new support, combined with the double bottom reversal pattern, adds stronger confirmation for a possible move higher.
Here is what I notice on the daily timeframe:
- Daily has already shift to bullish trend.
- Price is already breaking above a key resistance zone, a retest of this area could turn it into new support.
- The double bottom pattern adds strong bullish confirmation.
- This increases the probability of a continued move higher.
What is the best way to trade this Gold price action?
The classic break and retest pattern simplifies trading setups by focusing on a simple and repetitive market behavior. In USD/CAD price action, a breakout above resistance followed by a retest as support often provides a higher-probability continuation setup for beginners and experienced traders alike.
Why is the break and retest strategy so effective?
Because this method offers a high-probability continuation setup for Gold price action, and also simplifying the overall price action movement making it simplier and repititive to read. All you had to is just to wait for the market to prove its direction before risking your capital.
How to technically approach this bullish and bearish setups on Gold?
Bullish Scenario
Gold could potentially rally to the upside if:
- Retest daily support level ($4651.887 - $4622.817)
- Confirm rejection at daily support after the retest (bullish candle stick confirmation)
Trade Idea:
- Target price or take profit at $4757
- Stop-loss below daily support zone
Note: This trade is considered a higher-probability setup since it aligns with the overall trend.
Bearish Scenario
Gold could potentially move to the downside if:
- Break and retest daily support level ($4757.508 - $4791.3660)
- Confirm a bearish candle stick confirmation at daily resistance zone
Trade Idea:
- Target Price or take profit at $4507
- Stop-loss place above potential resistance level (once support level is broken)
Note: High-risk trade is less favorable, could get you a low probability trade and tighter risk reward ratio.
Final Take
If you’re watching gold, the charts are showing a clear story. XAU/USD is still leaning bullish, with buyers slowly taking control on both the weekly and daily timeframes.
For new traders, the key is not to overthink.
Focus on simple price action support, resistance, and break-and-retest setups. The market moves in patterns and constantly repeating, and your job is to wait for confirmation.
Stay patient, stay disciplined, and let the charts do the talking.
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Check Out My Contents:
Beginners Path:
- Beginner Trading Steps: 4 Rules to Follow Before You Trade
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Ready to learn simple price action strategy? Here’s how to do it step by step:
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Master How to Use Break & Retest Pattern
Learn How to Trade Gold
Gold is still one of the most traded assets, here’s how to trade it with confidence:
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Mastering Traders Mindset
Your mindset is what separates steady growth from costly mistakes. Focus on these essentials:
- Trading Mindset: Why Trading Exposes Who you Really Are?
- Consistency in Trading is Key: Why Discipline Beats Intelligence?
- Overtrading: Why More Trades Do Not Mean More Profits?
Beginner Trading Roadmap
Not sure where to begin? Here’s a simple roadmap to guide you:
- Common beginner Traders Mistakes → avoid overtrading, revenge trading, and chasing the market.
- Master Traders Psychology → build discipline, patience, and emotional control
- Mastering Risk Management → learn how to have a sustainable trading.
- Master Simple Technical strategies & Indicators → especially price action, key levels, and market structure.
- Applying to Real Market → forex, crypto and indices.
By building step by step; from basics → real trading → mastering the craft, you’ll gain clarity, confidence, and steady progress without ever feeling overwhelmed.
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Disclaimer:
Trading forex and derivative instruments involves substantial risk and may not be suitable for all individuals. Only use funds that you are prepared to lose. It is important to understand how these markets work and the risks involved before trading, and to seek independent financial advice if needed. All market analysis and insights shared are intended for educational and informational purposes only and should not be considered financial or investment advice. May 11, 2026
