Market Structure & Analysis:
Uptrend Confirmation: Price has been in a strong bullish trend, forming higher highs and higher lows.
Resistance & Retest: The price recently hit a resistance zone around $3,054 and pulled back for a retest.
Support Zone: A key support level is marked at $3,010, which has held multiple times.
Bullish Retest Setup: If the price successfully retests this support level and confirms bullish momentum, we can anticipate a potential move toward the next resistance level.
Target Levels:
First Target: $3,054 (recent high)
Final Target: $3,089 (next major resistance)
Trading Plan:
Buy Setup: Enter after confirmation of bullish price action at the support level ($3,010).
Stop Loss: Below $3,010 to avoid false breakouts.
Take Profit:
TP1: $3,054
TP2: $3,089
Risk Factors:
If the support at $3,010 breaks, price may drop toward the next major support at $2,911, invalidating the bullish setup.
Economic events (such as FOMC meetings, CPI data, or geopolitical risks) may cause unexpected volatility in gold prices.
Uptrend Confirmation: Price has been in a strong bullish trend, forming higher highs and higher lows.
Resistance & Retest: The price recently hit a resistance zone around $3,054 and pulled back for a retest.
Support Zone: A key support level is marked at $3,010, which has held multiple times.
Bullish Retest Setup: If the price successfully retests this support level and confirms bullish momentum, we can anticipate a potential move toward the next resistance level.
Target Levels:
First Target: $3,054 (recent high)
Final Target: $3,089 (next major resistance)
Trading Plan:
Buy Setup: Enter after confirmation of bullish price action at the support level ($3,010).
Stop Loss: Below $3,010 to avoid false breakouts.
Take Profit:
TP1: $3,054
TP2: $3,089
Risk Factors:
If the support at $3,010 breaks, price may drop toward the next major support at $2,911, invalidating the bullish setup.
Economic events (such as FOMC meetings, CPI data, or geopolitical risks) may cause unexpected volatility in gold prices.
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.