Gold (XAU/USD) is testing a strong support zone after a bearish move. This level has historically acted as a demand zone, making it a high-probability buying opportunity.
Entry: Near the support zone around $2,880-$2,885
Stop Loss: Below the support at $2,862 to manage risk
Take Profit 1: $2,920 – Previous resistance level
Take Profit 2: $2,953-$2,964 – Upper range resistance
📊 RSI is oversold, signaling a potential bounce.
📈 If price holds above support, a bullish reversal could follow.
🚀 A breakout above $2,900 could accelerate the move.
🔔 Risk management is key! If price breaks below support, reassess the trade.
#XAUUSD #Gold #Trading #PriceAction #Support #Forex
Entry: Near the support zone around $2,880-$2,885
Stop Loss: Below the support at $2,862 to manage risk
Take Profit 1: $2,920 – Previous resistance level
Take Profit 2: $2,953-$2,964 – Upper range resistance
📊 RSI is oversold, signaling a potential bounce.
📈 If price holds above support, a bullish reversal could follow.
🚀 A breakout above $2,900 could accelerate the move.
🔔 Risk management is key! If price breaks below support, reassess the trade.
#XAUUSD #Gold #Trading #PriceAction #Support #Forex
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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.