GOLD DAILY CHART MID/LONG TERM UPDATE
Updated
Hello Everyone,
Here’s the latest update on the daily chart we’ve been tracking and trading, providing an overview of the current range.
On the daily timeframe, there’s a strong resistance level at 2790, which may cause a rejection. Below this resistance, there is a Fair Value Gap (FVG) at 2740, which could provide support and help the price hold above.
To simplify your trades, we’ve included entry levels and take profit (TP) targets (TP1, TP2, TP3) aligned with the EMA5. The EMA5 crossing and holding above these weighted levels will determine the subsequent targets.
Key Update:
EMA5 lock is now in place, providing additional confirmation for the gap.
Strategy Highlights:
ENTRY LEVEL: 2744
If a candle closes above this level and EMA5 crosses it for confirmation, we’ll look to enter bullish positions.
First Target (TP1): 2804
Apply the same strategy to determine TP2 and TP3.
Rejection Scenario:
For ranging markets, focus on smaller timeframes (15M, 1H, 4H, 12H) to buy dips from weighted levels.
Target clean 40-60 pips moves, which work well in these conditions while avoiding the risks of long-term swings.
Dip-Buying Strategy:
Continue buying dips at our support levels, targeting 40–60 pips per trade.
Each level structure offers a 40–60 pip bounce, ideal for precise entry and exit points.
Monitor the EMA5 crossing and locking above or below the ENTRY LEVEL to confirm the next directional range.
Stay focused and trade wisely!
TheQuantumTraders
Here’s the latest update on the daily chart we’ve been tracking and trading, providing an overview of the current range.
On the daily timeframe, there’s a strong resistance level at 2790, which may cause a rejection. Below this resistance, there is a Fair Value Gap (FVG) at 2740, which could provide support and help the price hold above.
To simplify your trades, we’ve included entry levels and take profit (TP) targets (TP1, TP2, TP3) aligned with the EMA5. The EMA5 crossing and holding above these weighted levels will determine the subsequent targets.
Key Update:
EMA5 lock is now in place, providing additional confirmation for the gap.
Strategy Highlights:
ENTRY LEVEL: 2744
If a candle closes above this level and EMA5 crosses it for confirmation, we’ll look to enter bullish positions.
First Target (TP1): 2804
Apply the same strategy to determine TP2 and TP3.
Rejection Scenario:
For ranging markets, focus on smaller timeframes (15M, 1H, 4H, 12H) to buy dips from weighted levels.
Target clean 40-60 pips moves, which work well in these conditions while avoiding the risks of long-term swings.
Dip-Buying Strategy:
Continue buying dips at our support levels, targeting 40–60 pips per trade.
Each level structure offers a 40–60 pip bounce, ideal for precise entry and exit points.
Monitor the EMA5 crossing and locking above or below the ENTRY LEVEL to confirm the next directional range.
Stay focused and trade wisely!
TheQuantumTraders
Trade active
UPDATE:
DAILY EMA5 Detachment - can be pulled up with some bullish momentum or a minor retracement
H4 chart EMA5 cross and lock below 2739 with gap to 2715 - Analysis
Note
UPDATE:
Daily EMA5 correction done. As mentioned above 2 days before, The FVP worked perfectly and hold the price at 2737. I would still not enter into trade, unless EMA5 has crossed the ENTRY LEVEL 2744, then the following bullish target would open 2804. Follow the same targets. For further details check out our lower time frame in details.
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