XAUUSD Setup:
*Chart Overview:*
- *Current Price*: 2918.486
- *Target Level*: 3000.323
- *Breakout Zone*: The chart indicates that gold (XAUUSD) is approaching a critical breakout zone. A breakout above this level would signify strong upward momentum, with the next target set for *3000*.
- *Support Zone*: The support levels are visible below the current price, offering a solid foundation for price to bounce back after testing lower levels.
*Trade Strategy*:
- *Entry Point*: After the breakout, you can look for buying opportunities near the *breakout zone*.
- *First Target*: The *immediate target* is around *2955*, with a strong chance of reaching up to *3000*.
- *Confirmation*: Monitor the *BOS (Break of Structure)* and *CHoCH (Change of Character)* indicators for confirmation that the breakout is valid.
*Plan*:
1. *BUY* when the price breaks above the breakout resistance level.
2. *Set Take Profit (TP)* at *2955* first and then look to target *3000*.
3. *Stop Loss (SL)* should be placed slightly below the breakout point to protect against false breakouts.
Important Notes:
- Watch for *support zones* that may hold price above the breakout area if a pullback occurs.
The breakout could offer strong upward movement, making *3000* the next achievable level if the price continues with the bullish trend.
Stay alert and manage your risk!
*Chart Overview:*
- *Current Price*: 2918.486
- *Target Level*: 3000.323
- *Breakout Zone*: The chart indicates that gold (XAUUSD) is approaching a critical breakout zone. A breakout above this level would signify strong upward momentum, with the next target set for *3000*.
- *Support Zone*: The support levels are visible below the current price, offering a solid foundation for price to bounce back after testing lower levels.
*Trade Strategy*:
- *Entry Point*: After the breakout, you can look for buying opportunities near the *breakout zone*.
- *First Target*: The *immediate target* is around *2955*, with a strong chance of reaching up to *3000*.
- *Confirmation*: Monitor the *BOS (Break of Structure)* and *CHoCH (Change of Character)* indicators for confirmation that the breakout is valid.
*Plan*:
1. *BUY* when the price breaks above the breakout resistance level.
2. *Set Take Profit (TP)* at *2955* first and then look to target *3000*.
3. *Stop Loss (SL)* should be placed slightly below the breakout point to protect against false breakouts.
Important Notes:
- Watch for *support zones* that may hold price above the breakout area if a pullback occurs.
The breakout could offer strong upward movement, making *3000* the next achievable level if the price continues with the bullish trend.
Stay alert and manage your risk!
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Related publications
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.
TELEGRAM CHANNEL CLICK HERE
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
Related publications
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.