Gold Spot / U.S. DollarUpdated GOLD DAILY CHART ANALYSIS MID/LONG TERM UPDATE
Hello Everyone,
Here’s the latest update on the GOLD daily chart we’ve been monitoring and trading. Below is a comprehensive breakdown of the current range we’ve been tracking.
Previously, we identified a significant resistance level at 2790, highlighting it as a potential reversal point. At the time, we recommended holding off on trades due to the likelihood of a reversal. We also mentioned that if EMA5 crossed and held above the ENTRY LEVEL at 2744, it would signal a buy opportunity with a target at TP1 (2807).
Friday NY Session Update: After the daily chart correction, EMA5 crossed the ENTRY LEVEL at 2744, with the price reaching 2785 before pulling back due to the strong resistance level.
This week began with a notable bounce on Monday, with FVG providing solid support between 2720-2740. This support could pave the way for another attempt to break above the resistance level. However, confirmation will depend on EMA5 holding above or below the ENTRY LEVEL at 2744.
Key Updates:
Bullish Targets:
TP1: 2807
TP2: 2870
TP3: 2933
If EMA5 hold and stays above ENTRY LEVEL at 2744, the next target is 2807.
If EMA5 crosses and locks above TP1 (2807), it will open the path to TP2 (2870).
If EMA5 crosses and locks above TP2 (2870), it will further open the path to TP3 (2933).
Bearish Targets:
TP1: 2689
TP2: 2629
TP3: 2560
If EMA5 crosses and locks below 2744, it will open the path to 2689.
If EMA5 crosses and locks below 2689, the next target will be 2629.
If EMA5 crosses and locks below 2629, it will lead to 2560.
Short-Term Strategy:
We will use smaller timeframes (1H and 4H charts) to buy dips at weighted levels, aiming for clean 30-40 pips per trade. Ranging markets are ideal for this strategy, avoiding longer holds that risk being caught in volatile swings.
Long-Term Bias:
Our long-term outlook remains Bullish, and we view drops as opportunities to buy dips, using our predefined levels and setups on smaller timeframes.
The QUANTUM Trading Mastery
Here’s the latest update on the GOLD daily chart we’ve been monitoring and trading. Below is a comprehensive breakdown of the current range we’ve been tracking.
Previously, we identified a significant resistance level at 2790, highlighting it as a potential reversal point. At the time, we recommended holding off on trades due to the likelihood of a reversal. We also mentioned that if EMA5 crossed and held above the ENTRY LEVEL at 2744, it would signal a buy opportunity with a target at TP1 (2807).
Friday NY Session Update: After the daily chart correction, EMA5 crossed the ENTRY LEVEL at 2744, with the price reaching 2785 before pulling back due to the strong resistance level.
This week began with a notable bounce on Monday, with FVG providing solid support between 2720-2740. This support could pave the way for another attempt to break above the resistance level. However, confirmation will depend on EMA5 holding above or below the ENTRY LEVEL at 2744.
Key Updates:
Bullish Targets:
TP1: 2807
TP2: 2870
TP3: 2933
If EMA5 hold and stays above ENTRY LEVEL at 2744, the next target is 2807.
If EMA5 crosses and locks above TP1 (2807), it will open the path to TP2 (2870).
If EMA5 crosses and locks above TP2 (2870), it will further open the path to TP3 (2933).
Bearish Targets:
TP1: 2689
TP2: 2629
TP3: 2560
If EMA5 crosses and locks below 2744, it will open the path to 2689.
If EMA5 crosses and locks below 2689, the next target will be 2629.
If EMA5 crosses and locks below 2629, it will lead to 2560.
Short-Term Strategy:
We will use smaller timeframes (1H and 4H charts) to buy dips at weighted levels, aiming for clean 30-40 pips per trade. Ranging markets are ideal for this strategy, avoiding longer holds that risk being caught in volatile swings.
Long-Term Bias:
Our long-term outlook remains Bullish, and we view drops as opportunities to buy dips, using our predefined levels and setups on smaller timeframes.
The QUANTUM Trading Mastery
Trade active
TRADE IS ACTIVE, AS STATED EARLIER EMA5 is holding above KEY LEVEL 2744. The correction was done and EMA5 touch is DONE too. 
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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.