XAUUSD Consolidation before a rally to $3000 Mark

Price is moving within a horizontal range, showing accumulation or distribution. Multiple touches at both support and resistance indicate a well-defined structure.

A valid breakout with volume confirmation would be an ideal long entry.

Key Levels on the Chart:

Support Zone: Around $2,920 - $2,925 (Lower boundary of the consolidation range).

Resistance Zone: Around $2,940 - $2,945 (Upper boundary of the consolidation range).

Breakout Target: $3,000 (Psychological resistance & target if the breakout happens).

Trade Setup Considerations:

Bullish Case:

A break and retest above $2,945 with confirmation on the 15-minute or 1-hour timeframe could trigger a long position.

First minor target: $2,960 - $2,970, then extended to $3,000.

Bearish Case (Invalidation Level):

If price fails to hold $2,920, it could trigger a pullback to the next support at $2,900 - $2,890.
In that case, a reversal structure needs to form before considering longs again.