XAUUSD plan update

Market Structure & Setup:

Trend: The chart shows a pullback after a recent bullish run. You're planning to buy into this pullback at a lower level, aiming to capitalize on a continued upward move.

Key Levels:
Entry Zone (around 2,555–2,558 USD): You plan to enter a buy position near this area, expecting it to act as strong support after the pullback.
Stop-Loss (2,548 USD): The stop-loss is set just below key support to protect against further downside risk in case the market breaks below this level.
Take-Profit (near 2,590 USD): The take-profit level is set just below the previous resistance, aiming to capture the continuation of the bullish momentum.

Indicators:

Moving Averages:
The short-term moving average (blue) shows recent price momentum is still strong, and the price remains above it after a temporary pullback.
The longer-term moving average (orange) continues to trend upward, confirming the broader uptrend.
RSI:
The Relative Strength Index (RSI) is at 55.44, indicating the market is not yet overbought and has room to move upwards, giving you confidence in the potential rally after your entry.

Trade Plan:

Buy Position: You are looking to enter a long position around 2,555–2,558 USD, after the price pulls back to this support level.
Stop-Loss: Set at 2,548 USD to manage risk, in case the market breaks below the support zone.
Take-Profit: Aiming to exit around 2,590 USD, capturing the next upward move if the market resumes its bullish trend.

Conclusion:

This is a buy setup during a bullish pullback:

You’re looking to enter the market on a dip to 2,555–2,558 USD with a stop-loss at 2,548 USD to protect your downside.
The take-profit is set near 2,590 USD, targeting a continuation of the uptrend as the market recovers.

You’ll be watching for price action around the 2,555 USD level for a strong bounce, aiming for a profitable upward move.