XAU/USD Technical Analysis - 2H Chart: Bullish Breakout
Hey traders, here’s the scoop on XAU/USD:
Analysis Overview:
✅ Trend and Price Action:
The price is currently trading around $2,309.17, just above the 21 EMA (yellow line at $2,310.23).
There's an upward trendline providing support, indicating potential bullish momentum.
Key Levels:
Support: $2,306.02, $2,287.80
Resistance: $2,322.24, $2,350.38
Entry Strategy:
Long Position: Look for a pullback to the support level at $2,306.02 and ensure a strong bullish candle closes above the 21 EMA ($2,310.23). That’s your potential entry point confirming bullish momentum.
🎯 Profit Targets:
Target 1: $2,322.24
Target 2: $2,350.38
Risk Control:
Stop-Loss: Set your stop-loss just below $2,306.02 to maintain a solid risk/reward ratio. This will protect you in case the market decides to turn bearish.
Monitor price action closely. Trade smart! 📈
Analysis Overview:
✅ Trend and Price Action:
The price is currently trading around $2,309.17, just above the 21 EMA (yellow line at $2,310.23).
There's an upward trendline providing support, indicating potential bullish momentum.
Key Levels:
Support: $2,306.02, $2,287.80
Resistance: $2,322.24, $2,350.38
Entry Strategy:
Long Position: Look for a pullback to the support level at $2,306.02 and ensure a strong bullish candle closes above the 21 EMA ($2,310.23). That’s your potential entry point confirming bullish momentum.
🎯 Profit Targets:
Target 1: $2,322.24
Target 2: $2,350.38
Risk Control:
Stop-Loss: Set your stop-loss just below $2,306.02 to maintain a solid risk/reward ratio. This will protect you in case the market decides to turn bearish.
Monitor price action closely. Trade smart! 📈
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.
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.