This is a trading chart from TradingView for CFDs on Gold (US$/OZ) on the 1-hour timeframe. The chart shows price action around $3,130.618, with an upward trend leading into a consolidation zone.
Key Features:
1. Resistance Zone (~$3,140):
A red rectangular zone marking resistance.
Price has tested this level and pulled back.
2. Support Zone (~$3,100):
A red rectangular area below, indicating support.
Price has previously bounced from this level.
3. Projected Movement (Blue Arrow):
The blue arrow suggests a potential rejection from resistance leading to a drop.
A zigzag pattern at resistance suggests consolidation before a downward move.
4. Indicators & Patterns:
A moving average (possibly 9 or 21 EMA) is present.
The price appears to be following a typical resistance-rejection pattern.
Possible Interpretation:
If price fails to break above the resistance, it might fall toward the $3,100 support.
A confirmed break below $3,100 could indicate further downside momentum.
Conversely, a break above $3,140 would invalidate this bearish scenario.
Would you like a deeper analysis or any trade strategy suggestions?
Key Features:
1. Resistance Zone (~$3,140):
A red rectangular zone marking resistance.
Price has tested this level and pulled back.
2. Support Zone (~$3,100):
A red rectangular area below, indicating support.
Price has previously bounced from this level.
3. Projected Movement (Blue Arrow):
The blue arrow suggests a potential rejection from resistance leading to a drop.
A zigzag pattern at resistance suggests consolidation before a downward move.
4. Indicators & Patterns:
A moving average (possibly 9 or 21 EMA) is present.
The price appears to be following a typical resistance-rejection pattern.
Possible Interpretation:
If price fails to break above the resistance, it might fall toward the $3,100 support.
A confirmed break below $3,100 could indicate further downside momentum.
Conversely, a break above $3,140 would invalidate this bearish scenario.
Would you like a deeper analysis or any trade strategy suggestions?
Trade closed: target reached
GOLD Target successfully Reached. 
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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.
XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.