Gold Next Move Prediction
Today's my technical analysis of XAU/USD (Gold/USD) on a 2-hour timeframe, highlighting potential price movement based on key levels and trends:
1. Resistance Level (2,670.528):
A horizontal red dotted line marks a resistance zone where the price may struggle to break higher. This is a potential reversal point for the current uptrend.
2. Support Level (2,640.116):
A blue horizontal zone below indicates a potential support area where the price could stabilize after retracing.
3. Trend Line:
A red upward-sloping dotted line reflects the broader upward trend, suggesting overall bullish momentum despite a possible short-term pullback.
4. Projected Price Action:
A curved blue arrow predicts the price testing resistance at 2,670.528 before pulling back to the support zone near 2,640.116. This reflects a classic retracement scenario within an uptrend.
I would suggest the price may consolidate or rebound after retracement, aligning with the overall bullish trend.
Note: Always remember these analysis are for educational purposes not the trading advice, kindly trade at your own risk. Follow, like and support us guys
1. Resistance Level (2,670.528):
A horizontal red dotted line marks a resistance zone where the price may struggle to break higher. This is a potential reversal point for the current uptrend.
2. Support Level (2,640.116):
A blue horizontal zone below indicates a potential support area where the price could stabilize after retracing.
3. Trend Line:
A red upward-sloping dotted line reflects the broader upward trend, suggesting overall bullish momentum despite a possible short-term pullback.
4. Projected Price Action:
A curved blue arrow predicts the price testing resistance at 2,670.528 before pulling back to the support zone near 2,640.116. This reflects a classic retracement scenario within an uptrend.
I would suggest the price may consolidate or rebound after retracement, aligning with the overall bullish trend.
Note: Always remember these analysis are for educational purposes not the trading advice, kindly trade at your own risk. Follow, like and support us guys
Note
140+ pips have been collected now and yet target not reached Trade closed: target reached
Congrats guys target reached market touched our touched our take profits, that was an amazing entry in Gold and a good setup..
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.