GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK1H Trading Analysis - The Quantum Trading Mastery
Hi Traders,
We successfully reached TP1, TP2, and TP3 in our previous 1H chart analysis. Below are the updated levels and targets for the coming week.
Market Overview
Gold reached an all-time high at 2,817, and is currently trading between two key levels, with a gap above 2,817 and a gap below 2,778. As seen on the chart, EMA5 crossed and locked below the KEY LEVEL of 2,796, and TP1 has just been hit. To further validate the price direction and range, we’ll monitor EMA5 at various target levels, along with the GoldTurn support levels.
What’s Next for GOLD in the 1H Timeframe?
A resistance level has formed at 2,817. EMA5 failed to cross and lock above this point, triggering a reversal. The FVG might reinforce another resistance level, pushing prices further down towards TP2 (2,761). Additionally, EMA5 crossing below MA21 and MA50 signals a bearish trend.
Key Levels
* Resistance Zones: The FVG resistance at 2,782–2,888 is expected to push prices down to TP2 (2,761).
* Support Levels: Strong support is anticipated at Gold Turn Levels around 2,778, 2,761, 2,744, and 2,740 (Retracement Range).
⚠️ Downside Risks
* If EMA5 crosses and holds below 2,778, the next target is 2,761.
* If EMA5 crosses and holds below 2,761, the downside extends toward 2,744.
* A break below 2,744 could drive prices down to 2,740 (retracement range).
📈 Bullish Path
A bounce from support levels could trigger a retest with potential upside.
* If EMA5 crosses and holds above 2,778, the next bullish target is 2,796.
* If EMA5 holds above 2,796, the upward extends to 2,807.
* A further break above 2,807 could push prices upward to 2,819.
🔹 Long-Term Outlook
Our bullish bias remains, viewing pullbacks as opportunities to buy.
Buying dips from key levels offers better risk management rather than chasing tops.
Final Thoughts
Trade with confidence and discipline—our detailed analysis ensures you're equipped to navigate market fluctuations. Stay tuned for daily updates and multi-timeframe insights.
Best regards,
📉💰 The Quantum Trading Mastery
