GOLD $XAUUSD - Feb. 18th, 2024
Updated
GOLD 
XAUUSD - Feb. 18th, 2024
BUY/LONG ZONE (GREEN): $2019 - $2072
DO NOT TRADE/DNT ZONE (WHITE): $1990 - $2019
SELL/SHORT ZONE (RED): $1939 - $1990 (adjustable)
Overall on the high timeframes Gold is bullish with supporting structure. The daily timeframe recently broke out of a range to the downside, but is now heading back to a retest of the bottom level of the range (around 2019). Bulls can look for longs around the 2019 level as this would be the breakout area that would not mark this as a bullish trend again. Bears can look for entries: 1. as early as 2019 with a retest of the bottom level of the range and a rejection, 2. currently around the 2012 channel level, 3. but safely around 2001.5 as this was the start of the 4h bullish structure/momentum.
Weekly: Bullish
Daily: Lean Bearish (until test of previous range bottom level)
4H: Bullish Momentum/Developing Bullish Structure/Bearish Channel
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
XAUUSD - Feb. 18th, 2024BUY/LONG ZONE (GREEN): $2019 - $2072
DO NOT TRADE/DNT ZONE (WHITE): $1990 - $2019
SELL/SHORT ZONE (RED): $1939 - $1990 (adjustable)
Overall on the high timeframes Gold is bullish with supporting structure. The daily timeframe recently broke out of a range to the downside, but is now heading back to a retest of the bottom level of the range (around 2019). Bulls can look for longs around the 2019 level as this would be the breakout area that would not mark this as a bullish trend again. Bears can look for entries: 1. as early as 2019 with a retest of the bottom level of the range and a rejection, 2. currently around the 2012 channel level, 3. but safely around 2001.5 as this was the start of the 4h bullish structure/momentum.
Weekly: Bullish
Daily: Lean Bearish (until test of previous range bottom level)
4H: Bullish Momentum/Developing Bullish Structure/Bearish Channel
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
Trade active
breakout above the 4h descending channel, broke above the 2019 level and is currently in my bullish zoneTrade closed: target reached
Missed the update on this one, price rallied over the top of the bullish zone on Friday, March 1st. Price is currently another +3.60% over the bullish target.
TRADING WITH TONY, ACCESS TO MY PRIVATE TV CHARTS:
discord.gg/zEq4TgJFKe
discord.gg/zEq4TgJFKe
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