Trade Idea: XAUUSD Long (BUY LIMIT)
Gold is in a strong uptrend on the Daily chart, making higher highs and showing strong momentum. The RSI is above 70, indicating overbought conditions, but this is typical in strong trends. The MACD is bullish and confirms momentum.
On the 15-minute chart, Gold is consolidating after a strong rally, suggesting a continuation higher. The RSI is neutral (49.33), giving room for more upside.
On the 3-minute chart, Gold is experiencing a pullback, creating an opportunity to buy at a better price. The MACD is near neutral, signaling that a bullish reversal could be setting up.
Trade Setup
• Entry: 2936 (Near recent consolidation area)
• Stop Loss (SL): 2928 (Below recent support, limiting downside risk)
• Take Profit (TP): 2952 (Near next resistance level, maintaining a 2:1 RRR)
Fundamental Justification
• Gold is bullish due to inflationary concerns and continued demand for safe-haven assets.
• Interest rate expectations remain dovish, supporting Gold’s strength.
XAUUSD
On the 15-minute chart, Gold is consolidating after a strong rally, suggesting a continuation higher. The RSI is neutral (49.33), giving room for more upside.
On the 3-minute chart, Gold is experiencing a pullback, creating an opportunity to buy at a better price. The MACD is near neutral, signaling that a bullish reversal could be setting up.
Trade Setup
• Entry: 2936 (Near recent consolidation area)
• Stop Loss (SL): 2928 (Below recent support, limiting downside risk)
• Take Profit (TP): 2952 (Near next resistance level, maintaining a 2:1 RRR)
Fundamental Justification
• Gold is bullish due to inflationary concerns and continued demand for safe-haven assets.
• Interest rate expectations remain dovish, supporting Gold’s strength.
XAUUSD 
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.