Last week was marked by significant volatility in gold prices, with fluctuations amounting to hundreds of pips. However, on Friday, the bulls took full control, driving the price above the important milestone of 2500.
Currently, the price is undergoing a minor correction and consolidation phase. I expect it to resume its upward trend once this period concludes. The 2480 zone offers strong support, and any dips into this area should be considered buying opportunities.
The first target could be set at Friday's high of 2510, with a second target at the 2520 zone, which aligns with the measured target for the recent small triangle pattern.
Currently, the price is undergoing a minor correction and consolidation phase. I expect it to resume its upward trend once this period concludes. The 2480 zone offers strong support, and any dips into this area should be considered buying opportunities.
The first target could be set at Friday's high of 2510, with a second target at the 2520 zone, which aligns with the measured target for the recent small triangle pattern.
Trade active
As aspected, Gold corrected and entered my buy zone.Trade closed manually
I closed both my trades manually.Friday's one with 320 pips profit
Today's one with 50 pips profit
I'm looking to buy lower
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.