Entry Zone: Around $3,312 – $3,316
The price has hit a demand zone (grey + blue highlighted area), indicating a potential reversal/bounce point.
Stop Loss (SL): Just below $3,300
The red zone below the entry suggests risk is managed tightly — stopping out if the price breaks the demand zone.
Take Profit (TP): Around $3,351 – $3,356
The green target zone marks the expected price level where profit will be taken.
📌 Key Observations
Demand Zone (Support):
Price has reacted multiple times around the blue-grey area (support), suggesting strong buying interest.
Bullish Engulfing Setup:
The last candle at the demand zone appears strong — showing signs of bullish pressure.
High Reward to Risk:
The RR ratio looks favorable — small risk for a larger reward.
Previous Supply Zone:
Around $3,351+, marked in green — that's the area of interest for sellers, hence a good TP area.
🧠Interpretation
This setup suggests the trader expects gold to bounce from this support and head toward the previous resistance/supply area.
If the trade works, the trader earns a nice reward.
If the trade fails, it exits with minimal loss below support.
The price has hit a demand zone (grey + blue highlighted area), indicating a potential reversal/bounce point.
Stop Loss (SL): Just below $3,300
The red zone below the entry suggests risk is managed tightly — stopping out if the price breaks the demand zone.
Take Profit (TP): Around $3,351 – $3,356
The green target zone marks the expected price level where profit will be taken.
📌 Key Observations
Demand Zone (Support):
Price has reacted multiple times around the blue-grey area (support), suggesting strong buying interest.
Bullish Engulfing Setup:
The last candle at the demand zone appears strong — showing signs of bullish pressure.
High Reward to Risk:
The RR ratio looks favorable — small risk for a larger reward.
Previous Supply Zone:
Around $3,351+, marked in green — that's the area of interest for sellers, hence a good TP area.
🧠Interpretation
This setup suggests the trader expects gold to bounce from this support and head toward the previous resistance/supply area.
If the trade works, the trader earns a nice reward.
If the trade fails, it exits with minimal loss below support.
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.