Gold (XAUUSD) H1 Chart Analysis with D1 Doji Candlestick Insight
Gold (XAU/USD) H1 Chart Analysis with D1 Doji Candlestick Insight
1. **Resistance Zone ($3,050 - $3,060)**
- Gold is currently testing a **resistance level** around $3,050.
- A clear **break and hold above this level** could push prices towards $3,070 or higher.
2. **Support Levels to Watch:**
- **Immediate support:** $3,040 (near 21 EMA)
- **Stronger support zone:** $3,030 (highlighted in red on the chart)
- **Major support level:** $3,020 (Key demand area)
3. **Doji Candlestick on D1 Indicates Possible Pullback**
- Yesterday’s **Doji candle on the daily timeframe (D1)** signals **market indecision** and a possible **retracement** before a continuation.
- If today's session follows with a bearish close, Gold may **reject the resistance zone** and fall towards the **$3,030 - $3,020 support area**.
4. **Bullish & Bearish Scenarios:**
- **Bullish:** If price breaks **above $3,050** and holds, we could see a rally towards **$3,070 - $3,080**.
- **Bearish:** Failure to hold above **$3,050** and a break below **$3,040-$3,030** could confirm the Doji signal, leading to a deeper correction.https://www.tradingview.com/x/FpJTxBWu/
1. **Resistance Zone ($3,050 - $3,060)**
- Gold is currently testing a **resistance level** around $3,050.
- A clear **break and hold above this level** could push prices towards $3,070 or higher.
2. **Support Levels to Watch:**
- **Immediate support:** $3,040 (near 21 EMA)
- **Stronger support zone:** $3,030 (highlighted in red on the chart)
- **Major support level:** $3,020 (Key demand area)
3. **Doji Candlestick on D1 Indicates Possible Pullback**
- Yesterday’s **Doji candle on the daily timeframe (D1)** signals **market indecision** and a possible **retracement** before a continuation.
- If today's session follows with a bearish close, Gold may **reject the resistance zone** and fall towards the **$3,030 - $3,020 support area**.
4. **Bullish & Bearish Scenarios:**
- **Bullish:** If price breaks **above $3,050** and holds, we could see a rally towards **$3,070 - $3,080**.
- **Bearish:** Failure to hold above **$3,050** and a break below **$3,040-$3,030** could confirm the Doji signal, leading to a deeper correction.https://www.tradingview.com/x/FpJTxBWu/
Trade active
Analysis highlights a bearish movement in gold (XAU/USD) after breaking a key support level. see*1. Bearish Move Confirmed:*
- Gold dropped **100 pips** from **3043 to 3030**, indicating a strong selling pressure.
- This confirms a bearish trend is in play.
*2. Support Level Broken:*
- **3040 was acting as support**, meaning buyers were previously defending this level.
- Once price broke below **3040**, selling momentum increased, triggering a short trade.
*3. Trade Execution & Profit Strategy:*
- **Entry:** After support broke, a sell trade was activated.
- **Profit Taking:** Price hit 3030, meaning traders have already gained 100 pips.
- **Next Steps:** Secure partial profits and **hold the remaining position** for potential further downside.
*Key Takeaway:*
The breakdown of support at 3040 led to a quick drop, offering a great short opportunity. Now, traders should manage their positions—either taking profit or holding for more downside depending on risk appetite.
Trade closed: target reached
- **Sell Entry:** Gold at 3040- ** Hit:** 3022
- **Profit Gain:** 180 pips
- **Action:** Close all trades at 3022 for the profit.
Note
**Gold Update:** 📉 **Breakout below 3040 support** confirmed! Sell entry triggered, and price has now **hit 3000**, securing **400 pips profit**. Stay cautious and manage risk as volatility remains high! ✅💰
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.