Gold XAU/USD Price Action Idea: Is a Bullish Momentum Coming?
2026-05-05 15:03:56
Key Takeaways:
- The weekly chart remains strongly bullish with a potential double bottom forming.
- The daily chart still sits under heavy bearish pressure with lower highs and lower lows.
- A new daily resistance zone is currently trapped between 4650.855 and 4622.470.
- A clean break and retest of this zone creates a target of 4760.000.
What Does the Weekly Gold (XAU/USD) Price Action Tell Us?
On the weekly chart of Gold (XAU/USD), the market structure remains clearly bullish. Price continues to print higher highs and higher lows, reflecting strong and sustained upward momentum. There are also signs of a potential double bottom formation, suggesting a possible continuation of the upside trend if confirmed.
Weekly Chart Observations:
- Gold (XAU/USD) continues to maintain a strong bullish market structure, with higher highs and higher lows still intact.
- Price action is reacting from the most recent higher low structure, reinforcing bullish momentum.
- A noticeable candlestick rejection from the support area suggests buyers are stepping back into the market.
- Gold continues to respect a key previous structure level, highlighting strong underlying demand.
- Signs of a potential double bottom formation, suggesting a possible continuation of the upside trend if confirmed.
Overall, the weekly timeframe remains bullish, with price action favoring continued upward momentum.
Why Is the Daily Chart on Gold Showing Bearish Structure?
This is what I posted on market analysis recent blogs ”Gold (XAU/USD) Price Action Idea: A High-Probability Trade Setup on Gold”.
Daily Chart Observations:
- Market structure remains bearish, with price continuing to form lower highs and lower lows.
- A key resistance zone is positioned between 4831.380 - 4882.982.
- A confirmed breakout above this resistance area could signal a shift from bearish to bullish structure.
Why Did the Previous Gold Trade Setup Failed?
In our recent blog post, “Gold (XAU/USD) Price Action Idea: A High-Probability Trade Setup on Gold?”, we discussed a potential bullish setup on Gold (XAU/USD).
Previous anticipated confirmation:
- The daily chart continued forming lower highs and lower lows.
- The resistance zone between 4831.380 and 4882.982 failed to break and hold.
- The original setup required a clean breakout and retest for a potential move toward 5080.000.
- Recent price action created a new market structure, invalidating the previous trade idea.
However, the market failed to confirm the expected breakout and instead maintained a bearish structure.
How Can We Spot a Bullish Market Structure Shift Today?
On the current price action on the daily chart, Gold still faces heavy bearish pressure across the board. However, the price is rapidly approaching a critical area where momentum could dramatically shift in our favor soon.
Daily Chart Observations:
- New Resistance: A fresh zone sits between 4650.855 - 4622.470.
- Lower Highs: A new lower high forms a much cleaner structure.
- New Anticipation: Waiting for a bullish trend shift is always safer.
What is the Best Plan for This High-Probability Trade on Gold?
Waiting for the daily chart on Gold to turn bullish, this provides a stronger confirmation that buyers are regaining full control. Rather than forcing bad trades during weak momentum, we wait for price action to align with the higher timeframe.
- This high-probability trade could set up in gold once this technical condition align:
- Price breaks and retest the daily resistance level 4650.855 - 4622.470.
- Confirm bullish candle stick rejection after the break and retest
- Buyers may gain stronger momentum if price successfully closes above the resistance zone.
- Target price is 4760.000, stop-loss below new daily support level
This trade is considered a higher-probability setup since it aligns with the overall trend
Final Take
Gold XAU/USD still holds strong bullish potential on the higher timeframe, but the daily chart needs confirmation before buyers fully regain control. A clean breakout and retest of the 4650.855–4622.470 zone could open the path toward 4760.000.
In trading, patience is one of the biggest edges profitable traders use every single day.
The market will always create opportunities!
But the best setups always go to traders who wait for confirmation, stay disciplined, and let the market reveal its true direction first.
Because in the end,
It’s not about forcing the markets to move, it’s about reacting to it with precision when everything finally aligns.
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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 5, 2026
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