Gold (XAU/USD) Chart Analysis & Trade Setup
**📊 Chart Breakdown:**
1. **Support & Resistance Zones:**
- **Resistance Zone (Green - R1 & R2)**: Around **3,030 - 3,040**, indicating a strong supply area where price previously faced rejection.
- **Support Levels (Red - S1, S2, S3)**: Between **3,010 - 3,000**, where price has found demand and bounced multiple times (green arrows).
2. **Moving Averages (EMA):**
- **7 EMA (Red Line) - 3,019.87**
- **21 EMA (Purple Line) - 3,020.14**
- **50 EMA (Yellow Line) - 3,020.60**
- Price is currently hovering around these EMAs, indicating a key decision zone.
3. **Price Action & Expected Moves:**
- The **red arrows** suggest a potential **bullish bounce** from support areas **S1, S2, or S3**, targeting **R1 & R2 resistance levels**.
- If price **holds above 3,010** and forms bullish confirmations (like pin bars, engulfing candles), **buyers may push price towards 3,030 - 3,040**.
- If **price breaks below 3,010**, a deeper decline towards **3,000 - 2,990** (S3) is likely.
**📌 Trading Plan:**
🔹 **Bullish Scenario (Buy Trade Setup):**
- **Entry:** Near **S1-S2 (3,010 - 3,005)** on bullish confirmation.
- **Targets:** **3,025 - 3,030 - 3,040**.
- **Stop Loss:** Below **3,000**.
🔹 **Bearish Scenario (Sell Trade Setup):**
- **Entry:** Near resistance **3,030 - 3,040** if rejection occurs.
- **Targets:** **3,010 - 3,000 - 2,990**.
- **Stop Loss:** Above **3,045**.
**Conclusion:**
🔻 **Support holding = Buy towards 3,030-3,040**.
🔺 **Break below 3,010 = Further decline to 3,000-2,990**.
📉 **Watch price action for confirmation before entering trades!**https://www.tradingview.com/x/TB0LsXIc/
**📊 Chart Breakdown:**
1. **Support & Resistance Zones:**
- **Resistance Zone (Green - R1 & R2)**: Around **3,030 - 3,040**, indicating a strong supply area where price previously faced rejection.
- **Support Levels (Red - S1, S2, S3)**: Between **3,010 - 3,000**, where price has found demand and bounced multiple times (green arrows).
2. **Moving Averages (EMA):**
- **7 EMA (Red Line) - 3,019.87**
- **21 EMA (Purple Line) - 3,020.14**
- **50 EMA (Yellow Line) - 3,020.60**
- Price is currently hovering around these EMAs, indicating a key decision zone.
3. **Price Action & Expected Moves:**
- The **red arrows** suggest a potential **bullish bounce** from support areas **S1, S2, or S3**, targeting **R1 & R2 resistance levels**.
- If price **holds above 3,010** and forms bullish confirmations (like pin bars, engulfing candles), **buyers may push price towards 3,030 - 3,040**.
- If **price breaks below 3,010**, a deeper decline towards **3,000 - 2,990** (S3) is likely.
**📌 Trading Plan:**
🔹 **Bullish Scenario (Buy Trade Setup):**
- **Entry:** Near **S1-S2 (3,010 - 3,005)** on bullish confirmation.
- **Targets:** **3,025 - 3,030 - 3,040**.
- **Stop Loss:** Below **3,000**.
🔹 **Bearish Scenario (Sell Trade Setup):**
- **Entry:** Near resistance **3,030 - 3,040** if rejection occurs.
- **Targets:** **3,010 - 3,000 - 2,990**.
- **Stop Loss:** Above **3,045**.
**Conclusion:**
🔻 **Support holding = Buy towards 3,030-3,040**.
🔺 **Break below 3,010 = Further decline to 3,000-2,990**.
📉 **Watch price action for confirmation before entering trades!**https://www.tradingview.com/x/TB0LsXIc/
Trade active
XAU/USD (Gold) with a well-planned setup, and it played out perfectly! 🎯🔥Trade Breakdown:
Entry: You entered around S1-S2 (3,010 - 3,005) after spotting bullish confirmation. 📈
Target Levels: You aimed for 3,025 - 3,030 - 3,040, and ultimately, price hit $3,045—even higher than your final TP! 🚀💰
Stop Loss: You managed risk by keeping SL below $3,000, but the market never hit it—meaning you were on the right side of the trade! ✅
Why Close at $3,045?
Target Reached: No need to risk reversal after locking in profits. 🎯
Market Conditions: Gold is volatile, and securing gains is always smart. ⚡
Risk Management: Holding too long can turn wins into losses—you played it safe and won big!
Trade closed: target reached
close all trades
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.
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.