Quick Analysis! Is GOLD a good entry? XAU/USD Strategy
Hey traders! Today, we’re doing a quick analysis of gold (XAU/USD). The price is at a key level with Fibonacci retracements and a descending triangle pattern. Is it time to buy or sell? Let’s take a look.
Gold is respecting the Fibonacci levels. If it breaks the 0.5 at 2,667 to the upside, it could be a good buy signal. But if it drops below the triangle, we might see more downside, so watch that level closely.
If the price goes up, target 2,697. If it drops, target 2,599. Always manage your risk with a stop loss.
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Disclaimer:
This idea is for educational purposes only and is not financial advice. Trading involves risk; do your own research.
Gold is respecting the Fibonacci levels. If it breaks the 0.5 at 2,667 to the upside, it could be a good buy signal. But if it drops below the triangle, we might see more downside, so watch that level closely.
If the price goes up, target 2,697. If it drops, target 2,599. Always manage your risk with a stop loss.
If you liked this analysis, don’t forget to like, subscribe, and hit the bell for more! See you in the next video!
Disclaimer:
This idea is for educational purposes only and is not financial advice. Trading involves risk; do your own research.
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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.
Get Access To The Worlds Most Profitable Trading Indicators here: tinyurl.com/4d3389mc
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.