Target successful hit market reached 2890
This chart is a price analysis of Gold (CFDs on Gold, US/OZ) on a 1-hour timeframe, as seen on TradingView. Here’s what it suggests:
1. Uptrend: The blue diagonal line represents an upward trend, indicating that the price of gold has been increasing over time.
2. Support and Resistance:
The pink zone at around 2,860 indicates a support level, meaning that price has bounced from this area multiple times.
The horizontal red dotted line around 2,888 represents a resistance level, where the price has reached and is expected to struggle to break above.
3. Price Action:
The price has reached the target win area (marked with 🔥), meaning the prediction was correct.
The blue and black arrows show potential price movements: a short-term pullback before continuing the uptrend.
4. Trading Strategy:
If the price retraces and finds support on the trendline (blue line), it might continue upward.
If it breaks below the trendline, a reversal or deeper pullback might happen.
This chart is likely used for short-term trading decisions, indicating a bullish sentiment on gold. Let me know if you need a deeper breakdown!
1. Uptrend: The blue diagonal line represents an upward trend, indicating that the price of gold has been increasing over time.
2. Support and Resistance:
The pink zone at around 2,860 indicates a support level, meaning that price has bounced from this area multiple times.
The horizontal red dotted line around 2,888 represents a resistance level, where the price has reached and is expected to struggle to break above.
3. Price Action:
The price has reached the target win area (marked with 🔥), meaning the prediction was correct.
The blue and black arrows show potential price movements: a short-term pullback before continuing the uptrend.
4. Trading Strategy:
If the price retraces and finds support on the trendline (blue line), it might continue upward.
If it breaks below the trendline, a reversal or deeper pullback might happen.
This chart is likely used for short-term trading decisions, indicating a bullish sentiment on gold. Let me know if you need a deeper breakdown!
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.