Master Gold Trading with Precise Price Action Strategies!
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XAUUSD Alexgoldhunter Chart Analysis: CFDs on Gold (US/OZ) 1-Hour Timeframe
Current Market Structure
Current Price: $2,623.689
Resistance Levels:
2,650.000 USD
2,645.861 USD
2,635.056476 USD (0.786 Fibonacci level)
2,629.61603 USD (0.705 Fibonacci level)
2,623.775288 USD (0.618 Fibonacci level)
Support Levels:
2,615.847 USD (0.5 Fibonacci level)
2,607.921412 USD (0.382 Fibonacci level)
2,588.000 USD
2,578.000 USD
Indicators
RSI: 63.41 (indicating neutral to slightly bullish sentiment)
MACD: Shows bullish momentum with the MACD line above the signal line
Volume Profile: High trading activity around $2,700, indicating strong support/resistance zones
Buy Strategy
Confirmation:
Look for bullish candlestick patterns (e.g., hammer, bullish engulfing) near the 0.5 Fibonacci level ($2,615.847 USD).
Ensure RSI remains above 50, indicating bullish momentum.
Entry: Enter a buy position around the 0.5 Fibonacci level ($2,615.847 USD).
Stop Loss: Place a stop loss below the next support level at $2,578.000 USD to manage risk.
Take Profit: Aim for a 2:1 risk-reward ratio, targeting around $2,645.861 USD (resistance level) and $2,650.000 USD.
Sell Strategy
Confirmation:
Look for bearish candlestick patterns (e.g., shooting star, bearish engulfing) near the resistance levels around $2,650.000 USD.
Ensure RSI remains below 50, indicating bearish momentum.
Entry: Enter a sell position around the resistance level at $2,650.000 USD.
Stop Loss: Place a stop loss above the strong resistance level at $2,655.000 USD to manage risk.
Take Profit: Aim for a 2:1 risk-reward ratio, targeting around $2,615.847 USD (0.5 Fibonacci level) and $2,607.921412 USD (0.382 Fibonacci level).
VIP Signal Format
entry: $2,615.847 USD tp1: $2,645.861 USD tp2: $2,650.000 USD sl: $2,578.000 USD
This analysis uses price action techniques to generate a structured buy and sell strategy for CFDs on Gold (US/OZ). If you need further details or adjustments, feel free to let me know! 📈😊
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Trade active
Swing Trade Active from the 0.5 Fibonacci level ($2,615.847 USD).
Alex Gold Hunter
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