Bull fight or Bears picnic?

#XAU/USD#

Gold is definitely at an interesting inflection point, with both bullish and bearish scenarios presenting strong arguments. Let’s break it down further:

Bullish Case

1. Strong Trendline Support – The ascending trendline and price action suggest bulls are still in control unless we see a decisive break below 2920.

2. Golden Zone Confluence – Fibonacci retracement from the last major low aligns with this support zone (2925-2920), adding strength to a potential bounce.



3. Key Targets – If 2925 holds, price could climb toward 2931, 2940, 2947, 2955, with a potential ATH target of 2977-2981.


📌 Plan: Look for bullish confirmations at 2925 (wicks, bullish engulfing,) with stops below 2915.

Here we can look for longs

XAUUSD
Long / buy
Entry: 2925
TP: 2977
SL: 2915
Risk 0.5-1%

TP1 2931
TP2 2940
TP3 2947
TP4 2955
Final tp 2977

Using Proper Risk Management


Bearish Case

1. Head & Shoulders Pattern – A possible reversal structure is forming, with 2925-2920 as the neckline.



2. Break & Retest Setup – If 2920 breaks without strong rejections, we could see a shift in momentum.


3. Next Support Levels – A break of 2920 could open the door for 2908, 2902, if selling accelerates.

📌 Plan: If 2920 breaks and retests as resistance, look for shorts targeting 2908, 2895, and 2875.

Decision Zone: 2925-2920

Above 2925: Bulls maintain control, targeting 2931 → 2940 → 2955 → 2977.

Below 2920: Bears take over, aiming for 2908 → 2895 → 2875.

With major news events next week, this zone will be critical. If buyers step in aggressively, the bullish trend continues. But if 2920 folds, it could be the beginning of a larger correction.

Which way are you leaning right now?