XAUUSD (Gold Spot / U.S. Dollar) 45-minute chart, showing a technical analysis setup for a potential trade.
Analysis Overview:
1. Key Support & Resistance Levels:
• Resistance Zone: ~ 2,928 - 2,940
• Support Zone (Entry Zone): ~ 2,889 - 2,895
• Stop Loss Level: ~ 2,882
2. Trade Idea:
• Price has declined and is expected to reverse from the Entry Zone.
• A projected bullish move is illustrated, with a potential rise to 2,921.
• After some consolidation, the price may break out towards 2,928 - 2,940.
3. Pattern Formation:
• Possible Double Bottom Formation within the Entry Zone.
• A Head and Shoulders-like structure, indicating a potential trend reversal.
Conclusion:
If the price takes support in the entry zone and moves upward, this could be a good buying opportunity with a stop loss below 2,882 and a target near 2,928-2,940.
Analysis Overview:
1. Key Support & Resistance Levels:
• Resistance Zone: ~ 2,928 - 2,940
• Support Zone (Entry Zone): ~ 2,889 - 2,895
• Stop Loss Level: ~ 2,882
2. Trade Idea:
• Price has declined and is expected to reverse from the Entry Zone.
• A projected bullish move is illustrated, with a potential rise to 2,921.
• After some consolidation, the price may break out towards 2,928 - 2,940.
3. Pattern Formation:
• Possible Double Bottom Formation within the Entry Zone.
• A Head and Shoulders-like structure, indicating a potential trend reversal.
Conclusion:
If the price takes support in the entry zone and moves upward, this could be a good buying opportunity with a stop loss below 2,882 and a target near 2,928-2,940.
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.