Gold Spot / U.S. Dollar
Long
Updated

Gold is bullish and needs more momentum at 3320

368
The buying pressure in the US session pushed the price up and formed a bullish hammer candle on D1. Today's bearish recovery is seen as a buying opportunity to head towards the uptrend again.

3344 is the immediate resistance zone in the European session that Gold faces. Breaking this resistance zone will head towards 3365. According to the wave structure, it would be great to have a retest of 3320 to find some buying momentum and then break 3344.

SUPPORT: 3320-3297
RESISTANCE: 3345-3352-3365
SELL Trigger: Break 3320 ( Trendline & break zone)

Do you have any comments on the trading plan? I would love to hear your views.
Trade active
Price coming support zone 3320, SET UP BUY SIGNALS with SL 3315
Trade closed: target reached
Support 3320 + 100 pips . Support 3297 running
Note
Update new strategy trading for GOLD. This analysis is done

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.