Gold Spot / U.S. DollarUpdated GOLD 4H CHART ANALYSIS AND TRADING PLAN FOR THE WEEK
Hello Traders,
Here’s our updated analysis for the 4H GOLD chart. Last week’s projections played out perfectly, with EMA5 crossing and holding above key levels, successfully reaching our targets TP1, TP2, and TP3 (marked with orange circles on the chart).
Target Levels for the Coming Week:
This week, GOLD reversed from the resistance level at 2785.94. Currently, EMA5 and price are fluctuating between two weighted levels, with a gap above at 2785 and a gap below at 2733. We’ll need EMA5 to cross and hold above or below the ENTRY LEVEL at 2733 to determine the next range.
Key Updates:
Resistance Level: 2785.94
Bullish Targets:
TP1: 2785
TP2: 2810
TP3: 2833
If EMA5 crosses and locks above 2758, the next bullish target is TP1 (2785).
If EMA5 crosses and locks above TP1 (2785), the path to TP2 (2810) will open.
If EMA5 crosses and locks above TP2 (2810), the path to TP3 (2833) will open.
Bearish Targets:
Key Level: 2733
If EMA5 crosses and locks below 2733, it will open the path to 2706.
If EMA5 crosses and locks below 2706, the path to 2680 will open.
If EMA5 crosses and locks below 2680, the path to 2653 will open.
Additional Ranges:
Retracement Range: 2706 - 2680
Swing Range: 2664 - 2634
We will continue to monitor these levels and provide updates based on how EMA5 interacts with the weighted zones.
The QUANTUM Trading Mastery
Here’s our updated analysis for the 4H GOLD chart. Last week’s projections played out perfectly, with EMA5 crossing and holding above key levels, successfully reaching our targets TP1, TP2, and TP3 (marked with orange circles on the chart).
Target Levels for the Coming Week:
This week, GOLD reversed from the resistance level at 2785.94. Currently, EMA5 and price are fluctuating between two weighted levels, with a gap above at 2785 and a gap below at 2733. We’ll need EMA5 to cross and hold above or below the ENTRY LEVEL at 2733 to determine the next range.
Key Updates:
Resistance Level: 2785.94
Bullish Targets:
TP1: 2785
TP2: 2810
TP3: 2833
If EMA5 crosses and locks above 2758, the next bullish target is TP1 (2785).
If EMA5 crosses and locks above TP1 (2785), the path to TP2 (2810) will open.
If EMA5 crosses and locks above TP2 (2810), the path to TP3 (2833) will open.
Bearish Targets:
Key Level: 2733
If EMA5 crosses and locks below 2733, it will open the path to 2706.
If EMA5 crosses and locks below 2706, the path to 2680 will open.
If EMA5 crosses and locks below 2680, the path to 2653 will open.
Additional Ranges:
Retracement Range: 2706 - 2680
Swing Range: 2664 - 2634
We will continue to monitor these levels and provide updates based on how EMA5 interacts with the weighted zones.
The QUANTUM Trading Mastery
Trade active
INTRADAY UPDATE (H4):
Progress so far:
MA21 has provided support at 2733. The EMA5 failed to cross and lock below the KEY LEVEL 2733, confirming its strength as a support level. As previously updated, EMA5 was able to hold its positive above KEY LEVEL and now successfully cross MA21 maintaining the bullish momentum.
TARGETS REMAINS THE SAME:
If EMA5 crosses and locks above 2758, the next bullish target is TP1 (2785).
If EMA5 crosses and locks above TP1 (2785), the path to TP2 (2810) will open.
If EMA5 crosses and locks above TP2 (2810), the path to TP3 (2833) will open.
We continue to monitor the H4 chart for optimal trade setups. The trend remains in line with our analysis, and T1 is expected to be achieved soon. Stay vigilant for potential pullbacks, which could provide additional entry opportunities.
Focus on key levels, implement proper money management, and manage trades carefully. 📊
The QUANTUM Trading Mastery
Note
As we have updated earlier, After EMA5 had failed to cross and lock below 2733 at support level, the price bounced back upwards. and we have updated the targets above.
TP1 2758 ✅Achieved
TP2 2785 ✅Achieved
TP3 2810 ⏳Pending
TP4 2833 ⏳Pending
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.