Gold Long Setup: Break and Retest of Key Level

Hello TradingView Community,
This post outlines a potential long trade setup on the Gold Spot / U.S. Dollar (XAUUSD) pair, based on the 15-minute timeframe.
Technical Analysis:
The chart is currently in a strong bullish trend, making a series of higher highs and higher lows. We can identify a key horizontal level at approximately $3,854.83. This level previously acted as a significant resistance, where the price struggled to break through.
We have recently witnessed a decisive breakout above this resistance, which is a strong bullish signal. The trading idea is based on a classic "break and retest" pattern. As illustrated by the blue path drawn on the chart, we are anticipating a pullback to this former resistance level. The expectation is that this level will now act as a new support floor, providing a solid base for the next leg of the rally.
Trade Setup:
The long position tool on the chart visualizes a potential trade plan based on this scenario:
Entry: Approximately $3,854.83 (at the retest of the new support).
Stop Loss: $3,813.52 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: $3,973.21 (targeting a new higher high in the prevailing trend).
This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered as financial advice. Trading commodities involves significant risk. Please conduct your own due diligence and manage your risk appropriately.