Gold (XAU/USD) Technical Analysis
Market Structure:
- Gold initially consolidated before a breakout with a strong candle, indicating bullish momentum.
- A fakeout below the support zone triggered stop-loss hunting, followed by a reversal.
- The price has now entered the buying area, where demand is pushing it higher.
Trade Setup:
- Bullish Scenario: A sustained hold above the buying area could lead to a test of the $2,970 resistance zone.
Note : 1st Target is 2955,
Entry Area near 2922 demand zone .
Conclusion:
Gold remains bullish above the key buying area. A breakout above $2,953 could signal further upside, while a rejection may bring short-term corrections.
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Market Structure:
- Gold initially consolidated before a breakout with a strong candle, indicating bullish momentum.
- A fakeout below the support zone triggered stop-loss hunting, followed by a reversal.
- The price has now entered the buying area, where demand is pushing it higher.
Trade Setup:
- Bullish Scenario: A sustained hold above the buying area could lead to a test of the $2,970 resistance zone.
Note : 1st Target is 2955,
Entry Area near 2922 demand zone .
Conclusion:
Gold remains bullish above the key buying area. A breakout above $2,953 could signal further upside, while a rejection may bring short-term corrections.
If you enjoy, press the like button.
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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.
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
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.