XAUUSD Potential Buy & Sell Zone for M15, 1hr and 4hr - 31Jan25
Based on the current Gold (XAU/USD) price of $2,793, let's analyze potential trading setups on the 15-minute (M15), 1-hour (1H), and 4-hour (4H) timeframes, incorporating technical indicators such as Engulfing patterns, Exponential Moving Averages (EMA), Fibonacci retracement levels, and Support and Resistance (S&R) levels.
15-Minute Chart (M15):
Buy Setup:
Entry Price: If the price retraces to the Fibonacci 38.2% level of the recent upward move, around $2,785, and shows a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below the recent swing low or support level, e.g., $2,780.
Take Profit (TP): Aim for the next resistance level or the Fibonacci 61.8% extension, approximately $2,800.
Sell Setup:
Entry Price: If the price reaches the Fibonacci 61.8% retracement level of the recent downward move, around $2,800, and forms a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or resistance level, e.g., $2,805.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,785.
1-Hour Chart (1H):
Buy Setup:
Entry Price: Look for a retracement to the Fibonacci 38.2% level of the recent upward trend, around $2,770, accompanied by a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below the significant support level or recent swing low, e.g., $2,760.
Take Profit (TP): Aim for the next key resistance level or the Fibonacci 61.8% extension, approximately $2,820.
Sell Setup:
Entry Price: If the price ascends to the Fibonacci 61.8% retracement level of the recent downward trend, around $2,820, and exhibits a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or resistance level, e.g., $2,830.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,770.
4-Hour Chart (4H):
Buy Setup:
Entry Price: Anticipate a pullback to the Fibonacci 38.2% retracement level of the broader upward movement, around $2,750, confirmed by a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below a major support level or the recent swing low, e.g., $2,730.
Take Profit (TP): Aim for the next significant resistance level or the Fibonacci 61.8% extension, approximately $2,850.
Sell Setup:
Entry Price: If the price rises to the Fibonacci 61.8% retracement level of the recent downward movement, around $2,850, and forms a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or key resistance level, e.g., $2,870.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,750.
15-Minute Chart (M15):
Buy Setup:
Entry Price: If the price retraces to the Fibonacci 38.2% level of the recent upward move, around $2,785, and shows a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below the recent swing low or support level, e.g., $2,780.
Take Profit (TP): Aim for the next resistance level or the Fibonacci 61.8% extension, approximately $2,800.
Sell Setup:
Entry Price: If the price reaches the Fibonacci 61.8% retracement level of the recent downward move, around $2,800, and forms a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or resistance level, e.g., $2,805.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,785.
1-Hour Chart (1H):
Buy Setup:
Entry Price: Look for a retracement to the Fibonacci 38.2% level of the recent upward trend, around $2,770, accompanied by a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below the significant support level or recent swing low, e.g., $2,760.
Take Profit (TP): Aim for the next key resistance level or the Fibonacci 61.8% extension, approximately $2,820.
Sell Setup:
Entry Price: If the price ascends to the Fibonacci 61.8% retracement level of the recent downward trend, around $2,820, and exhibits a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or resistance level, e.g., $2,830.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,770.
4-Hour Chart (4H):
Buy Setup:
Entry Price: Anticipate a pullback to the Fibonacci 38.2% retracement level of the broader upward movement, around $2,750, confirmed by a Bullish Engulfing pattern.
Stop Loss (SL): Place SL below a major support level or the recent swing low, e.g., $2,730.
Take Profit (TP): Aim for the next significant resistance level or the Fibonacci 61.8% extension, approximately $2,850.
Sell Setup:
Entry Price: If the price rises to the Fibonacci 61.8% retracement level of the recent downward movement, around $2,850, and forms a Bearish Engulfing pattern.
Stop Loss (SL): Set SL above the recent swing high or key resistance level, e.g., $2,870.
Take Profit (TP): Target the next support level or the Fibonacci 38.2% extension, approximately $2,750.
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