Overview
Gold (XAU/USD) is showing signs of a potential bullish reversal after a recent decline. A buy limit order is placed around the $2,911 level, targeting a move towards the $2,928 resistance zone. This setup follows a structured risk-reward approach with a stop loss below recent lows at $2,900.90.
Trade Setup
📍 Buy Limit: $2,911 (Key support zone)
📍 Stop Loss: $2,900.90 (Below recent lows for risk management)
📍 Take Profit: $2,928 (Major resistance zone)
📍 Risk-Reward Ratio: 1:2+
Technical Analysis
🔹 Support Zone: Price is testing a demand area where buyers previously stepped in.
🔹 Bullish Structure: After a sharp sell-off, gold is attempting a recovery.
🔹 Potential Reversal: Expecting price to trigger the buy limit before rallying towards resistance.
🔹 Volume Confirmation: Watching for increasing bullish volume near the entry.
Trade Plan
1️⃣ Wait for price to reach the buy limit zone (~$2,911).
2️⃣ Monitor price action for bullish confirmation (e.g., bullish engulfing, rejection wicks).
3️⃣ Ride the move towards the take profit zone (~$2,928).
4️⃣ If structure shifts bearish, adjust SL accordingly.
🔥 Gold remains volatile, so risk management is key! Watch for market reactions at key levels before entering the trade.
📊 Like & Follow for more gold trade ideas! ✅
Gold (XAU/USD) is showing signs of a potential bullish reversal after a recent decline. A buy limit order is placed around the $2,911 level, targeting a move towards the $2,928 resistance zone. This setup follows a structured risk-reward approach with a stop loss below recent lows at $2,900.90.
Trade Setup
📍 Buy Limit: $2,911 (Key support zone)
📍 Stop Loss: $2,900.90 (Below recent lows for risk management)
📍 Take Profit: $2,928 (Major resistance zone)
📍 Risk-Reward Ratio: 1:2+
Technical Analysis
🔹 Support Zone: Price is testing a demand area where buyers previously stepped in.
🔹 Bullish Structure: After a sharp sell-off, gold is attempting a recovery.
🔹 Potential Reversal: Expecting price to trigger the buy limit before rallying towards resistance.
🔹 Volume Confirmation: Watching for increasing bullish volume near the entry.
Trade Plan
1️⃣ Wait for price to reach the buy limit zone (~$2,911).
2️⃣ Monitor price action for bullish confirmation (e.g., bullish engulfing, rejection wicks).
3️⃣ Ride the move towards the take profit zone (~$2,928).
4️⃣ If structure shifts bearish, adjust SL accordingly.
🔥 Gold remains volatile, so risk management is key! Watch for market reactions at key levels before entering the trade.
📊 Like & Follow for more gold trade ideas! ✅
Trade active
Buy Limit ActivatedTrade closed manually
40 Pips in favor running
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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.
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.