#XAUUSD Medium-term GOLD trends, new peaks, opportunities, risks
Gold analysis 19/08-23/08/2024:
Last week, gold broke through the previous peak at 2484 and closed the candle at 2508. The likelihood of gold creating a new peak around 251x is very high. After forming the peak, gold will likely experience a significant correction. The price has a high chance of returning to the 242x area, which serves as a momentum-building phase to continue the uptrend.
The main trading direction for this week will be BUY.
Key price areas to watch: 2510 - 2520, 2477 - 2481, 2498 - 2505, 2424 - 2435.
Recommended orders:
Plan 1: SELL XAUUSD zone 2515 - 2518
SL 2521
TP 2507 - 2500 - 2490 - 2480.
Plan 2: BUY XAUUSD zone 2477-2480
SL 2474
TP 2485 - 2495 - 2505.
Plan 3: BUY XAUUSD zone 2424 - 2427
SL 2421
TP 2432 - 2450 - 2480 - 2567.
Last week, gold broke through the previous peak at 2484 and closed the candle at 2508. The likelihood of gold creating a new peak around 251x is very high. After forming the peak, gold will likely experience a significant correction. The price has a high chance of returning to the 242x area, which serves as a momentum-building phase to continue the uptrend.
The main trading direction for this week will be BUY.
Key price areas to watch: 2510 - 2520, 2477 - 2481, 2498 - 2505, 2424 - 2435.
Recommended orders:
Plan 1: SELL XAUUSD zone 2515 - 2518
SL 2521
TP 2507 - 2500 - 2490 - 2480.
Plan 2: BUY XAUUSD zone 2477-2480
SL 2474
TP 2485 - 2495 - 2505.
Plan 3: BUY XAUUSD zone 2424 - 2427
SL 2421
TP 2432 - 2450 - 2480 - 2567.
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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.