Gold Spot / U.S. DollarUpdated Gold next possible moves and Trump's oath taking, read caption.
Hello fellow traders what are your thoughts about this setup don't hesitate to share it in comment section.
I have prepared this chart and it presents a 4-hour analysis of the Gold market, highlighting key support and resistance in levels, trends, and potential price movements. Here's an interpretation of the chart with the potential impacts of geopolitical wars and political events:
Chart Analysis:
1. Resistance Levels:
Resistance 2: Marked in red at approximately 2748, this is a significant price ceiling. Price may test this zone but could face rejection.
R1: Intermediate resistance near 2,724. Price movements show difficulty in sustaining above this level.
2. Support Levels:
Support 1: Positioned near 2666, it serves as an initial floor for price retracements.
Support 2: A stronger zone around 2,623. If prices drop sharply due to external factors, this area could act as a safety net.
3. Trendline Analysis:
The chart indicates an upward trend within a parallel channel (blue dashed lines). If the price breaks below the lower trendline, a correction to Support 1 or Support 2 is likely.
4. Projection:
The price is expected to move upward to test R1, followed by a potential correction. A strong breakout above R1 could lead to a test of Resistance 2.
Geopolitical and Political Factors:
1. Geopolitical Wars:
Gold as a Safe Haven: Escalation in geopolitical tensions (e.g., wars or conflicts) tends to drive demand for gold, pushing prices higher. Such uncertainty could accelerate the move toward Resistance 2 or even beyond.
2. Trump’s Oath Ceremony:
Market Volatility: Political events, such as Trump's re-assumption of office, can influence the gold market. Potential policy announcements, trade relations, or economic shifts under his leadership might increase investor caution, favoring gold as a hedge.
Risk Sentiment: A divisive or controversial ceremony could increase market volatility, causing a surge in gold prices.
Conclusion:
While the chart indicates a bullish structure with possible corrections, external factors like geopolitical conflicts or political transitions could disrupt this trajectory. Gold’s role as a safe-haven asset remains crucial in such uncertain times, potentially pushing prices to new highs.
Key levels;
Resistances: 2724, 2748.
Supports: 2666, 2623.
Gold Sell zone: 2715-20
TP1 2710
TP2 2705
TP3 2695
Gold Buy zone: 2666-60
TP1 2670
TP2 2680
TP3 2685
Kindly support me like comment and share my ideas.
I have prepared this chart and it presents a 4-hour analysis of the Gold market, highlighting key support and resistance in levels, trends, and potential price movements. Here's an interpretation of the chart with the potential impacts of geopolitical wars and political events:
Chart Analysis:
1. Resistance Levels:
Resistance 2: Marked in red at approximately 2748, this is a significant price ceiling. Price may test this zone but could face rejection.
R1: Intermediate resistance near 2,724. Price movements show difficulty in sustaining above this level.
2. Support Levels:
Support 1: Positioned near 2666, it serves as an initial floor for price retracements.
Support 2: A stronger zone around 2,623. If prices drop sharply due to external factors, this area could act as a safety net.
3. Trendline Analysis:
The chart indicates an upward trend within a parallel channel (blue dashed lines). If the price breaks below the lower trendline, a correction to Support 1 or Support 2 is likely.
4. Projection:
The price is expected to move upward to test R1, followed by a potential correction. A strong breakout above R1 could lead to a test of Resistance 2.
Geopolitical and Political Factors:
1. Geopolitical Wars:
Gold as a Safe Haven: Escalation in geopolitical tensions (e.g., wars or conflicts) tends to drive demand for gold, pushing prices higher. Such uncertainty could accelerate the move toward Resistance 2 or even beyond.
2. Trump’s Oath Ceremony:
Market Volatility: Political events, such as Trump's re-assumption of office, can influence the gold market. Potential policy announcements, trade relations, or economic shifts under his leadership might increase investor caution, favoring gold as a hedge.
Risk Sentiment: A divisive or controversial ceremony could increase market volatility, causing a surge in gold prices.
Conclusion:
While the chart indicates a bullish structure with possible corrections, external factors like geopolitical conflicts or political transitions could disrupt this trajectory. Gold’s role as a safe-haven asset remains crucial in such uncertain times, potentially pushing prices to new highs.
Key levels;
Resistances: 2724, 2748.
Supports: 2666, 2623.
Gold Sell zone: 2715-20
TP1 2710
TP2 2705
TP3 2695
Gold Buy zone: 2666-60
TP1 2670
TP2 2680
TP3 2685
Kindly support me like comment and share my ideas.
Trade active
Note
Gold fell from 2713 to 2703 100 pips.Note
market has reached the 2nd resistance 2748-50 
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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.