Hello Traders!
After analyzing the Gold 2H chart, we can observe that the 2647-2645 zone is acting as support, preventing prices from moving further downward. If this level breaks, we could potentially see Gold decline towards the 2635-2630 range.
However, if this level holds, analyzing the smaller timeframe (like the M15) shows additional support at 2648, where the market may bounce. In this case, we could anticipate an upward move towards 2664, with a further potential target at 2672-2675. At this level, a selling opportunity could emerge.
After analyzing the Gold 2H chart, we can observe that the 2647-2645 zone is acting as support, preventing prices from moving further downward. If this level breaks, we could potentially see Gold decline towards the 2635-2630 range.
However, if this level holds, analyzing the smaller timeframe (like the M15) shows additional support at 2648, where the market may bounce. In this case, we could anticipate an upward move towards 2664, with a further potential target at 2672-2675. At this level, a selling opportunity could emerge.
Trade active
As anticipated, if 2645 breaks, gold is likely to move toward 2635. While I missed the initial entry, I’ll consider selling if the market fills the imbalance at 2646-47 and provides clear confirmation.
Note
Success is built on consistency, not convenience.
The sell position is completed with 120+ pips; now I’m focusing on buying opportunities
Trade closed: target reached
This could be a good setup, but the market lacks momentum.
If prices reach my level, I’ll consider buying, provided there’s strict confirmation.
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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.