Gold CFDs: Expert Strategies
XAUUSD AlexGoldHunter Technical Chart Analysis: CFDs on Gold (US/OZ) 1-Hour TimeframeCurrent Market Structure
Current Price: $2,687.330
Key Fibonacci Levels:
0.786: $2,710.71975
0.705: $2,707.044375
0.618: $2,703.09675
0.5: $2,697.7425
0.382: $2,692.38825
Swing High: $2,690.00
Swing Low: $2,674.50
p1D High: $2,720.00
p1D Low: $2,666.50
Indicators and Volume
RSI: 43.47 (neutral to slightly oversold)
MACD: Bullish momentum with histogram at 0.567 and signal line at -4.915
Volume Profile: Significant trading activity around $2,700, indicating potential support/resistance zones
Buy Strategy
Confirmation:
Look for RSI to drop below 30 (oversold condition) and start to rise.
Ensure MACD histogram shows increasing bullish momentum.
Look for a bullish candlestick pattern (e.g., hammer, bullish engulfing) near the 0.5 Fibonacci level ($2,697.7425).
Entry: Enter a buy position around the 0.5 Fibonacci level ($2,697.7425).
Stop Loss: Place a stop loss below the recent swing low ($2,674.50).
Take Profit: Aim for a 1:3 risk-reward ratio. If the stop loss is $20 below the entry, the take profit should be $60 above the entry.
Sell Strategy
Confirmation:
Look for RSI to exceed 70 (overbought condition) and start to fall.
Ensure MACD histogram shows increasing bearish momentum.
Look for a bearish candlestick pattern (e.g., shooting star, bearish engulfing) near the 0.786 Fibonacci level ($2,710.71975).
Entry: Enter a sell position around the 0.786 Fibonacci level ($2,710.71975).
Stop Loss: Place a stop loss above the recent swing high ($2,690.00).
Take Profit: Aim for a 1:3 risk-reward ratio. If the stop loss is $20 above the entry, the take profit should be $60 below the entry.
Buy Signal
ENTRY: $2,697.7425 TP: $2,717.7425 (1:3 risk-reward) SL: $2,677.7425
This should provide you with a structured approach to trading CFDs on Gold (US/OZ) based on the current chart setup and technical indicators. If you have more questions or need further adjustments, feel free to let me know!
Alex Gold Hunter
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Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Related publications
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.