SMC Trading point update
This chart is a technical analysis of Gold (XAU/USD) on a 4-hour timeframe. Here’s a breakdown
1. Ascending Channel:
The price is moving within an upward channel, showing a bullish trend.
Higher highs and higher lows confirm the uptrend.
2. Support and Resistance Zones:
Yellow Boxes: Key support zones where price previously consolidated before moving higher.
Red Arrows: Marking resistance zones where the price faced rejection.
Green Arrows: Indicating support levels where the price bounced.
3. Current Price Action:
Price recently dropped to a key support zone (around $3,050).
A bullish reaction is expected from this level.
If support holds, the price may continue the uptrend toward the target of $3,186.
4. Projected Move:
The black zigzag line suggests a potential bounce from support.
If the support level holds, price could move back up within the channel.
Mr SMC Trading point
Conclusion:
If price respects the support zone, there could be a good buying opportunity.
A break below the support zone would signal potential bearish movement.
Monitoring price action around the yellow zone is crucial for confirming direction.
Pales support boost 🚀 analysis follow )
This chart is a technical analysis of Gold (XAU/USD) on a 4-hour timeframe. Here’s a breakdown
1. Ascending Channel:
The price is moving within an upward channel, showing a bullish trend.
Higher highs and higher lows confirm the uptrend.
2. Support and Resistance Zones:
Yellow Boxes: Key support zones where price previously consolidated before moving higher.
Red Arrows: Marking resistance zones where the price faced rejection.
Green Arrows: Indicating support levels where the price bounced.
3. Current Price Action:
Price recently dropped to a key support zone (around $3,050).
A bullish reaction is expected from this level.
If support holds, the price may continue the uptrend toward the target of $3,186.
4. Projected Move:
The black zigzag line suggests a potential bounce from support.
If the support level holds, price could move back up within the channel.
Mr SMC Trading point
Conclusion:
If price respects the support zone, there could be a good buying opportunity.
A break below the support zone would signal potential bearish movement.
Monitoring price action around the yellow zone is crucial for confirming direction.
Pales support boost 🚀 analysis follow )
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#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.