This chart is a technical analysis of the Gold Spot price (XAU/USD) on the 15-minute time frame. The analysis outlines a potential bullish trading setup, aiming for a price recovery toward the all-time high (ATH) and a final target of 3,500 USD.
Market Phase: The price has recently pulled back from a high and is currently showing signs of consolidation or minor retracement.
2. Chart Highlights:
Final Target (Take Profit):
Level: 3,500 USD
This is marked at the top of the chart and labeled as Final Target and also tagged as ATH (All-Time High).
The analyst anticipates that after a short-term retracement, the price will rise again and potentially reach this level.
Support Zone (Buy Area):
approximately between $3,443.840 and $3,442.
This is considered a demand zone or support level where buying interest might emerge.
The analyst expects the price to drop into this area and then reverse upward.
Entry Strategy:
The chart suggests waiting for the price to touch the support zone (blue area), and once signs of bullish reversal appear, enter a buy position.
Stop Loss (SL):
Clearly marked just below the support zone at $3,427.438.
Placing the SL here minimizes loss in case the market breaks the support and continues downward.
A minor drop into the support area.
A reversal and bullish continuation.
Targeting the all-time high near $3,500.
5. Risk-Reward Setup:
This trade appears to be structured with a favorable risk-to-reward ratio, aiming for a high return (from around $3,443 to $3,500) compared to the risk (down to $3,427).
Market Phase: The price has recently pulled back from a high and is currently showing signs of consolidation or minor retracement.
2. Chart Highlights:
Final Target (Take Profit):
Level: 3,500 USD
This is marked at the top of the chart and labeled as Final Target and also tagged as ATH (All-Time High).
The analyst anticipates that after a short-term retracement, the price will rise again and potentially reach this level.
Support Zone (Buy Area):
approximately between $3,443.840 and $3,442.
This is considered a demand zone or support level where buying interest might emerge.
The analyst expects the price to drop into this area and then reverse upward.
Entry Strategy:
The chart suggests waiting for the price to touch the support zone (blue area), and once signs of bullish reversal appear, enter a buy position.
Stop Loss (SL):
Clearly marked just below the support zone at $3,427.438.
Placing the SL here minimizes loss in case the market breaks the support and continues downward.
A minor drop into the support area.
A reversal and bullish continuation.
Targeting the all-time high near $3,500.
5. Risk-Reward Setup:
This trade appears to be structured with a favorable risk-to-reward ratio, aiming for a high return (from around $3,443 to $3,500) compared to the risk (down to $3,427).
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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.
Fed up with random trades and no progress? I drop real setups that make sense — not hype. If you're serious about growing, hop into the Telegram group and let’s build something real.
t.me/+galBMpR4FpNiOGI8
t.me/+galBMpR4FpNiOGI8
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.