XAU/USD : Key Levels and Trading Strategies to Watch

By reviewing the #Gold chart on the 2-hour timeframe, we can see that today the price climbed to higher levels, reaching the $2525 range. Currently, there has been an initial reaction to this supply zone. The price is close to its historical high of $2531, and we need to see if it will stabilize below $2520 or above $2527 in the next 4 hours. Day traders will need more confirmation before taking a SELL position, while scalpers can look for suitable SELL triggers within the $2527 to $2532 range, managing risk carefully and taking quick profits. My medium-term outlook on gold remains bullish, and I expect to see the price reaching $2550 and $2600 soon.

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Best Regards , Arman Shaban

((2+4+7+13+15+18+26+36+38+69+87+101+183+209+1000+1002+1000000000+1000000001+ 1000000853)^♾️*69) + 1 !

Comment

By analyzing the #Gold chart on the 2-hour timeframe, we observe that, as expected, the price had an initial negative reaction to the identified supply zone, dropping from $2527 to $2503! The total return so far has been over 230 pips, and currently, gold is trading around the $2510 range. We now need to see if the price can break below $2500 again today or if we should expect a break above the previous high of $2532!

ArmanShabanTrading

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