Gold Spot / U.S. Dollar
Long
Updated

GOLD ( FED CHAIR POWELL ) ( 4H )

345
XAUUSD

HELLO TRADERS

  • Tendency active bullish after the price breakout the resistance trendline .

  • TURNING LEVEL : a blue line between resistance and support level around 2,348$, indicates if the price stabilizing above this level reach resistance level , if the breaking turning level reach a support level .

  • RESISTANCE LEVEL : there is a green line around 2,378$ , indicates selling have already increase this level , so if the price stable turning level reach this level .

  • SUPPORT LEVEL : there is a red line below turning level around 2,337$ , indicates buying have already increase this level , so if the price breaking turning level reach this level .

  • PRICE MOVEMENT : maybe first the price will trying to dropping turning level around 2,348$ , after rising to the resistance level around 2,378$ , then stable above this level reach 2,391$ ,
    if the price breaking turning level reach a support level at 2,337$ , then stable by open 4h candle below this level reach a 2,320$ , know the price in the supply returned to the demand zone may be reach a turning level before long .

TARGET LEVEL :
  • RESISTANCE LEVEL : 2,378$ , 2,391$
  • SUPPORT LEVEL : 2,337$ , 2,320$
Trade active
as mentioned the price first trying to dropping a turning level before rising , dropping + 210 pip , know the price rising a + 220 pip , know the price it will attempt reach a resistance level at 2,378 $ , 2,391 $

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