Gold Spot Analysis - Bullish Scenario
XAUUSD XAUUSD XAUUSD XAUUSD Key Levels:
Resistance Zone: $2,789.87 (100% Fibonacci Extension)
Support Levels: $2,628.99 (50% Fibonacci Retracement), $2,607.20 (61.8% Fibonacci Retracement).
Bullish Setup:
The price has retraced to the 61.8% Fibonacci level (B), suggesting a potential upward move to the 100% Fibonacci Extension target at $2,789 (C).
Trading Idea:
Entry: $2,607 - $2,628.
Stop-Loss: Below $2,585.06.
Target: $2,789.87, extended to $2,840.08.
Technical indicators align with a corrective pullback phase (wave B), with the next rally possibly marking wave C.
Do your own analysis before trading!
Trade active
Trade closed: target reached
SELL XAUUSD 2695 96
🔻SL 2699
🎯TP1 2680
🎯TP2 2650
🎯TP3 2600
🎯TP4 2570
🎯TP5 2541
Note
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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.
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.