A potential bullish setup is forming on the 8-hour chart of Gold (XAUUSD). After a period of consolidation, price is showing signs of strength near the 3324 level. If bullish momentum continues, we anticipate upward movement toward key resistance levels.
Entry Level: 3324
Take Profit 1: 3360
Take Profit 2 (Final Target): 3400
Stop Loss: 3280
This setup offers a favorable risk-to-reward ratio. Price action and market structure support the possibility of a bullish breakout. Traders are advised to monitor momentum and volume before entry, and to apply proper risk management according to their individual trading plans.
Entry Level: 3324
Take Profit 1: 3360
Take Profit 2 (Final Target): 3400
Stop Loss: 3280
This setup offers a favorable risk-to-reward ratio. Price action and market structure support the possibility of a bullish breakout. Traders are advised to monitor momentum and volume before entry, and to apply proper risk management according to their individual trading plans.
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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.