#XAUUSD/H1 Confirm the two-peak model or continue to increase?
Gold XAUUSD analysis on August 20, 2024:
Following the start of the trading week on Monday, prices remain sideways in the 2500 - 2510 range. This correction phase is likely forming a double top pattern at H1; breaking through the 2477-2480 range would confirm the pattern. Currently, there is a small overbought area at 2508 - 2513.
Today's trading trend is SELL.
Key price levels to note:
SELL zone 2510 - 2516, 2526 - 2530;
BUY zone: 2490-2493, 2477 - 2482.
Recommended orders:
Plan 1: SELL XAUUSD zone 2514 - 2516
SL 2522
TP 2508 - 2500 - 2590 - 2435.
Plan 2: BUY XAUUSD zone 2490-2492
SL 2486
TP 2495 - 2500 - 2510.
Plan 3: BUY XAUUSD zone 2480 - 2482
SL 2476
TP 2488 - 2495 - 2510.
Following the start of the trading week on Monday, prices remain sideways in the 2500 - 2510 range. This correction phase is likely forming a double top pattern at H1; breaking through the 2477-2480 range would confirm the pattern. Currently, there is a small overbought area at 2508 - 2513.
Today's trading trend is SELL.
Key price levels to note:
SELL zone 2510 - 2516, 2526 - 2530;
BUY zone: 2490-2493, 2477 - 2482.
Recommended orders:
Plan 1: SELL XAUUSD zone 2514 - 2516
SL 2522
TP 2508 - 2500 - 2590 - 2435.
Plan 2: BUY XAUUSD zone 2490-2492
SL 2486
TP 2495 - 2500 - 2510.
Plan 3: BUY XAUUSD zone 2480 - 2482
SL 2476
TP 2488 - 2495 - 2510.
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.
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.