The 30-minute timeframe of the current XAU/USD price movement is broken down in this chart, that highlights significant support and resistance areas. With a possible comeback, the price may advance bullishly into the higher resistance levels as it approaches a crucial support area.
The price is moving in a range from 2883 - 2895, with a both side ranges to cover up we have two scenarios there.
Scenario 1:
We can take a buy if the price breaks the resistance area i.e 2895 there is SMMA above so price may show some rejection so we add more buy but it will a clean range to cover
Scenario 2:
If the price shows rejection and it breaks and close below 2881 than it will have a chance to move bearish till the next support which is at 2870
The price is moving in a range from 2883 - 2895, with a both side ranges to cover up we have two scenarios there.
Scenario 1:
We can take a buy if the price breaks the resistance area i.e 2895 there is SMMA above so price may show some rejection so we add more buy but it will a clean range to cover
Scenario 2:
If the price shows rejection and it breaks and close below 2881 than it will have a chance to move bearish till the next support which is at 2870
Trade active
active and 150 pip running buy momemtum is strong so we see gold in this week touch 3000follow my idea anf use proper risk mnagement
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.
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.