Chart Observations
Current Price:
Around $3,325.40 at the time of the screenshot.
Zones and Levels:
Red Zone (Top): Resistance around $3,360 – potential reversal area if price reaches it.
Orange Zone (Middle): Resistance or supply zone near $3,340–$3,345, possibly where sellers may come in.
Gray Zone: A neutral/consolidation zone around the current price.
Green Zones (Bottom): Strong support zones near $3,280, indicating a potential long entry if price drops.
Price Action Forecast (Based on Arrows)
Bullish Scenario:
Price is expected to rise toward the orange resistance zone (~$3,340–$3,345).
If price breaks above this zone, it might test the $3,360 area (upper red zone).
Bearish Scenario:
If price fails to break or gets rejected at the orange zone:
A potential reversal back down toward the $3,280 support area is anticipated.
Strategy Implication
Short Setup: If price hits the $3,340–$3,345 zone and shows signs of rejection (bearish candlestick pattern), a short trade toward $3,280 support is possible.
Long Setup: If price reaches the green support zone ($3,280) and holds, a long position could be considered targeting the gray or orange zone.
Risk Zones
Stop-Loss Considerations:
For short trades above $3,345.
For long trades below $3,275–$3,270, depending on volatility.
Current Price:
Around $3,325.40 at the time of the screenshot.
Zones and Levels:
Red Zone (Top): Resistance around $3,360 – potential reversal area if price reaches it.
Orange Zone (Middle): Resistance or supply zone near $3,340–$3,345, possibly where sellers may come in.
Gray Zone: A neutral/consolidation zone around the current price.
Green Zones (Bottom): Strong support zones near $3,280, indicating a potential long entry if price drops.
Price Action Forecast (Based on Arrows)
Bullish Scenario:
Price is expected to rise toward the orange resistance zone (~$3,340–$3,345).
If price breaks above this zone, it might test the $3,360 area (upper red zone).
Bearish Scenario:
If price fails to break or gets rejected at the orange zone:
A potential reversal back down toward the $3,280 support area is anticipated.
Strategy Implication
Short Setup: If price hits the $3,340–$3,345 zone and shows signs of rejection (bearish candlestick pattern), a short trade toward $3,280 support is possible.
Long Setup: If price reaches the green support zone ($3,280) and holds, a long position could be considered targeting the gray or orange zone.
Risk Zones
Stop-Loss Considerations:
For short trades above $3,345.
For long trades below $3,275–$3,270, depending on volatility.
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Accurate gold signal🎯
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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.