GOLD 12H CHART ROUTE MAP ANALYSIS FOR THE WEEK12H GOLD Chart: Updated Analysis and Strategic Outlook (10the Feb 2024)
Hello Traders,
Here’s the latest 12H GOLD chart update, featuring a detailed review of recent movements and actionable insights for the upcoming market sessions. Our diligent tracking since October 2023 has consistently delivered 100% target accuracy, as evidenced by the marked Golden Circle areas on the charts. Let’s dive into the highlights and what lies ahead.
Previous Chart Review
* Entry Level 2814: ✅ DONE
* TP1 2858: ✅ DONE
* The price broke above the resistance level 2858 and reached a new ATH at 2886 last week.
* EMA5 held above 2858, which fueled the strong bullish push during Friday’s NFP release.
What’s Next for GOLD? Bullish or Bearish?
The price is currently consolidating around 2858, with EMA5 playing a crucial role in determining the next trajectory.
Resistance Levels: 2903, 2948, 2993
Support Levels (Activated GOLDTURN Levels):
2813 (Critical Weighted Level)
2770 (Critical Weighted Level)
2710 (Critical Weighted Level)
2664 (Major Support Level)
2599 (Lower Major Demand Zone and Retracement Range)
EMA5 Behavior (Red Line):
* Currently sitting below TP1 (2858) but indicating sustained bullish momentum.
* EMA5’s crossing and locking above or below key levels will signal the next move:
Bullish Scenarios:
Scenario 1: If EMA5 crosses and locks above TP1 (2858), expect a bullish rally toward 2903.
Scenario 2: If EMA5 crosses and locks above TP2 (2903), the next target is 2948.
Scenario 3: A further cross and lock above 2948 could drive the price to 2993.
Bearish Scenarios:
If EMA5 fails to sustain above TP1 (2858) and resistance levels hold, expect a pullback toward support zones:
Scenario 1: A cross and lock below Entry (2813) could lead to a decline toward 2770.
Scenario 2: A further drop below 2770 may target 2710 as the next support level.
Scenario 3: Continued bearish momentum could push the price toward 2664 and, ultimately, 2599 (Retracement Range).
Short-Term Strategy:
Anticipate possible reversals at weighted GOLDTURN levels 2813 and 2770.
Leverage 1H and 4H timeframes to capture pullbacks around these levels.
Target 30–40 pips per trade, focusing on shorter positions for effective risk management.
GOLDTURN levels provide reliable bounce opportunities, allowing you to buy at dip levels.
Long-Term Outlook:
Maintain a bullish bias while using pullbacks as buying opportunities.
Buying near key support levels ensures better entry points and mitigates risks, avoiding the pitfalls of chasing tops.
Final Thoughts:
Trade with precision, discipline, and confidence. Our accurate, multi-timeframe analysis equips you to navigate the market effectively. Stay updated with daily insights to remain ahead of market trends.
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Best regards,
📉💰 The Quantum Trading Mastery Team
