GOLD , 1-HOUR TIMEFRAME
-Key Observations:
1. Trendline Support (Blue Line):
The blue upward trendline shows a strong long-term bullish support.
Price has bounced off this line multiple times (highlighted with green arrows), showing it’s a valid trendline and buyers are defending that level.
2. Current Price:
Gold is trading at around $3,315 after a strong bullish move.
3. Resistance Zone (Purple Box):
The price level near $3,400 is marked as a key resistance/target zone.
This zone was previously tested and rejected, so it is the next major level to watch for a breakout or reversal.
4. Target 3400 (Text):
The chart aims for $3,400 as the bullish target, with the yellow arrow suggesting price is likely heading upward toward that zone.
5. Renko Bars:
The recent strong bullish Renko bricks indicate buying momentum.
Fewer red (bearish) bricks show less selling pressure.
6. Ichimoku Cloud (Background):
Price has broken above the cloud, which is another bullish signal.
The cloud is turning green and acting as support.
-Conclusion (Trade Idea):
Bias: Bullish
Entry Zone: Current area near 3,310–3,315
Target: $3,400
Stop Loss Suggestion: Below the trendline (around $3,200 or slightly below last swing low)
-Key Observations:
1. Trendline Support (Blue Line):
The blue upward trendline shows a strong long-term bullish support.
Price has bounced off this line multiple times (highlighted with green arrows), showing it’s a valid trendline and buyers are defending that level.
2. Current Price:
Gold is trading at around $3,315 after a strong bullish move.
3. Resistance Zone (Purple Box):
The price level near $3,400 is marked as a key resistance/target zone.
This zone was previously tested and rejected, so it is the next major level to watch for a breakout or reversal.
4. Target 3400 (Text):
The chart aims for $3,400 as the bullish target, with the yellow arrow suggesting price is likely heading upward toward that zone.
5. Renko Bars:
The recent strong bullish Renko bricks indicate buying momentum.
Fewer red (bearish) bricks show less selling pressure.
6. Ichimoku Cloud (Background):
Price has broken above the cloud, which is another bullish signal.
The cloud is turning green and acting as support.
-Conclusion (Trade Idea):
Bias: Bullish
Entry Zone: Current area near 3,310–3,315
Target: $3,400
Stop Loss Suggestion: Below the trendline (around $3,200 or slightly below last swing low)
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✅JOIN FREE TELEGRAM
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✅DAILY 3-4 SIGNALS
✅ALL PAIRS CRYPTO & GOLD
✅t.me/+atTT3a4htZ8yZjQ0
✅DAILY 3-4 SIGNALS
✅ALL PAIRS CRYPTO & GOLD
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.