XAU/USD (Gold) Trade Recommendation – 1H Chart Analysis
Current Market Overview:
Gold is trading around $2,918 and is consolidating after a strong bullish move.
Resistance is seen at $2,920 - $2,930, while support lies at $2,900 - $2,880.
Moving averages suggest bullish momentum, but MACD shows indecision.
📉 Sell Setup (Preferred Based on Your Strategy)
🔹 Sell Entry: $2,920 - $2,930 (if price rejects resistance)
🔹 Take Profit (TP): $2,900 - $2,880
🔹 Stop Loss (SL): Above $2,935
🔹 Confirmation: Wait for bearish rejection (e.g., wick rejections or strong bearish candle) before entering.
📈 Alternative Buy Setup (If Market Breaks Out)
🔹 Buy Entry: Above $2,930 (if price breaks and retests as support)
🔹 Take Profit (TP): $2,950 - $2,960
🔹 Stop Loss (SL): Below $2,920
⚠️ My Recommendation:
Primary Trade: Look for a sell entry around $2,920 - $2,930, aligning with your strategy.
Secondary Trade: Consider a buy if price breaks and holds above $2,930.
Current Market Overview:
Gold is trading around $2,918 and is consolidating after a strong bullish move.
Resistance is seen at $2,920 - $2,930, while support lies at $2,900 - $2,880.
Moving averages suggest bullish momentum, but MACD shows indecision.
📉 Sell Setup (Preferred Based on Your Strategy)
🔹 Sell Entry: $2,920 - $2,930 (if price rejects resistance)
🔹 Take Profit (TP): $2,900 - $2,880
🔹 Stop Loss (SL): Above $2,935
🔹 Confirmation: Wait for bearish rejection (e.g., wick rejections or strong bearish candle) before entering.
📈 Alternative Buy Setup (If Market Breaks Out)
🔹 Buy Entry: Above $2,930 (if price breaks and retests as support)
🔹 Take Profit (TP): $2,950 - $2,960
🔹 Stop Loss (SL): Below $2,920
⚠️ My Recommendation:
Primary Trade: Look for a sell entry around $2,920 - $2,930, aligning with your strategy.
Secondary Trade: Consider a buy if price breaks and holds above $2,930.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.