Instrument: The chart appears to be tracking XAU/USD (Gold), as indicated on the right-hand side.
• Trend: The price is moving upwards within a parallel channel, showing a consistent uptrend.
• Fibonacci Retracement & Extensions:
• Various Fibonacci levels are marked, which act as potential support and resistance zones.
• The 0.786 Fibonacci level is a key...
Gold (XAU/USD) Market Structure Analysis - In-Depth
This chart represents the 30-minute timeframe for Gold (XAU/USD), focusing on market structure, price action, and key levels. Below is a breakdown of each key component:
1. Market Structure Analysis
ChOCH (Change of Character) ✅:
A Change of Character occurs when the market shifts from bearish to bullish or...
1. Bullish Order Blocks (OBs):
• Highlighted zones below the current price indicate potential support areas where price might reverse or find buying interest.
• These levels are marked as potential entries for long positions.
2. Bearish Order Blocks (OBs):
• Highlighted zones above the current price signal resistance areas where price might reverse or face...
