4-hour timeframe
Gold is currently in a strong uptrend, consistently reaching new all-time highs.
There are potential opportunities to enter long positions on Gold during this 4-hour pullback, with the $2950 level being a key area to watch for potential longs.
This level has several confluences supporting it:
1. Support zone
2. Trendline
3. Fibonacci Golden Pocket (0.618 - 0.65)
Daily timeframe
The $2950 level on Gold appears to be an ideal point to manage long positions and ride the uptrend. If Gold breaks below this level, we could see a decline to around $2800. Therefore, it's important to monitor the $2950 level closely.
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Gold is currently in a strong uptrend, consistently reaching new all-time highs.
There are potential opportunities to enter long positions on Gold during this 4-hour pullback, with the $2950 level being a key area to watch for potential longs.
This level has several confluences supporting it:
1. Support zone
2. Trendline
3. Fibonacci Golden Pocket (0.618 - 0.65)
Daily timeframe
The $2950 level on Gold appears to be an ideal point to manage long positions and ride the uptrend. If Gold breaks below this level, we could see a decline to around $2800. Therefore, it's important to monitor the $2950 level closely.
Thanks for your support.
- Make sure to follow me so you don't miss out on the next analysis!
- Drop a like and leave a comment!
Lets chat in the comment section. See you there :)
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.