Hello traders here's my New XAU/USD idea, what you think on it? share your thoughts in comment section
The technical analysis an ascending channel, potential liquidity zones, and a key resistance area.
Key Highlights:
1. Ascending Channel: The price has been moving within an upward-sloping channel, indicating a bullish trend.
2. Current Price: The price is currently hovering around $2,915.
3. Target & Stop Loss:
Target: A new all-time high at $2,970.
Stop Loss (SL): Positioned at $2,893 to manage risk.
4. Ascending Support: a crucial support level. If the price holds above this, the bullish momentum may continue.
5. Breakdown Possibility: If the price breaks below the ascending support, a liquidity grab could occur, leading to a further decline.
Conclusion:
If Gold respects the ascending support, the price may surge toward $2,970.
A breakdown below the support zone could lead to liquidity hunting, driving the price lower.
We should monitor price action carefully before entering positions.
Follow me for more updates and don't forget to share my idea with your friends and family
The technical analysis an ascending channel, potential liquidity zones, and a key resistance area.
Key Highlights:
1. Ascending Channel: The price has been moving within an upward-sloping channel, indicating a bullish trend.
2. Current Price: The price is currently hovering around $2,915.
3. Target & Stop Loss:
Target: A new all-time high at $2,970.
Stop Loss (SL): Positioned at $2,893 to manage risk.
4. Ascending Support: a crucial support level. If the price holds above this, the bullish momentum may continue.
5. Breakdown Possibility: If the price breaks below the ascending support, a liquidity grab could occur, leading to a further decline.
Conclusion:
If Gold respects the ascending support, the price may surge toward $2,970.
A breakdown below the support zone could lead to liquidity hunting, driving the price lower.
We should monitor price action carefully before entering positions.
Follow me for more updates and don't forget to share my idea with your friends and family
Trade active
Buy Trade acitve From 2915 Target 2970 SL 2993 Good Luck Guy's Must Support Me 
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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.