Market Analysis (XAU/USD)
Trend: The market appears to be in an overall uptrend with a recent pullback.
Support & Resistance:
Resistance Level: Around 2,940 (marked with a red horizontal line).
Support Levels: Key levels at 2,864 and 2,900 (marked in blue and pink).
Indicators:
Moving Averages & Bollinger Bands: The price is trading near the upper Bollinger Band, suggesting possible continuation or a short-term pullback.
Higher Lows Formation: The price is making a series of higher lows, which indicates bullish momentum.
Price Action:
A strong bullish move has been seen after bouncing from support at 2,864.
The price is currently consolidating near 2,917, which is a minor resistance zone.
Trade Signal:
Entry: Buy above 2,909.
Target: 2,930 - 2,940.
Stop Loss: Below 2,900.
Risk/Reward Ratio: Favorable bullish setup.
Signal: Buy (Bullish Setup)
Reason: Higher lows, price above moving averages, strong rejection from key support.
Confirmation: If the price breaks above 2,920, it could trigger further bullish momentum toward 2,940.
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Trend: The market appears to be in an overall uptrend with a recent pullback.
Support & Resistance:
Resistance Level: Around 2,940 (marked with a red horizontal line).
Support Levels: Key levels at 2,864 and 2,900 (marked in blue and pink).
Indicators:
Moving Averages & Bollinger Bands: The price is trading near the upper Bollinger Band, suggesting possible continuation or a short-term pullback.
Higher Lows Formation: The price is making a series of higher lows, which indicates bullish momentum.
Price Action:
A strong bullish move has been seen after bouncing from support at 2,864.
The price is currently consolidating near 2,917, which is a minor resistance zone.
Trade Signal:
Entry: Buy above 2,909.
Target: 2,930 - 2,940.
Stop Loss: Below 2,900.
Risk/Reward Ratio: Favorable bullish setup.
Signal: Buy (Bullish Setup)
Reason: Higher lows, price above moving averages, strong rejection from key support.
Confirmation: If the price breaks above 2,920, it could trigger further bullish momentum toward 2,940.
Please do follow, comment and like.
Note
This is how it works. 110+ pips almost. Trade closed: target reached
This trade has been reached to its target comfortably. 210+ pips secured with minimum drawn down. Enjoy.
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✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
Related publications
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.