This is a 4-hour (4H) chart of XAU/USD (Gold vs US Dollar) published on TradingView, showing a potential bullish setup with key support and resistance zones marked.
🔍 Key Analysis:
1. Support Zones (Yellow Boxes):
Lower Zone (around 3,307): Strong historical demand area, where price has previously reversed upward.
Mid Zone (around 3,345–3,355): Short-term resistance-turned-support, currently being tested.
2. Resistance Zone (Upper Yellow Box near 3,400):
This is the target area for the projected bullish move.
3. Price Action:
Price recently bounced from the lower support zone.
After retesting the mid-resistance zone and slightly pulling back, the chart suggests price might form a higher low and then break upward toward the upper resistance zone.
4. Trade Idea (Illustrated with Risk-Reward Box):
Entry: Around current level (near 3,334).
Stop Loss: Just below the lower support zone (~3,307).
Take Profit: Near the 3,400 resistance.
This reflects a bullish setup with favorable risk-to-reward ratio.
5. Technical Indicators/Events:
Two icons at the bottom suggest upcoming news events, which could cause volatility — important for risk management.
📈 Summary:
The chart indicates a potential long (buy) opportunity on XAU/USD, assuming the support zone holds and the price forms a higher low before targeting the 3,400 level. Risk is managed with a stop below the support and profit target near resistance.
Let me know if you want this setup converted into trade execution levels or a trading plan.
🔍 Key Analysis:
1. Support Zones (Yellow Boxes):
Lower Zone (around 3,307): Strong historical demand area, where price has previously reversed upward.
Mid Zone (around 3,345–3,355): Short-term resistance-turned-support, currently being tested.
2. Resistance Zone (Upper Yellow Box near 3,400):
This is the target area for the projected bullish move.
3. Price Action:
Price recently bounced from the lower support zone.
After retesting the mid-resistance zone and slightly pulling back, the chart suggests price might form a higher low and then break upward toward the upper resistance zone.
4. Trade Idea (Illustrated with Risk-Reward Box):
Entry: Around current level (near 3,334).
Stop Loss: Just below the lower support zone (~3,307).
Take Profit: Near the 3,400 resistance.
This reflects a bullish setup with favorable risk-to-reward ratio.
5. Technical Indicators/Events:
Two icons at the bottom suggest upcoming news events, which could cause volatility — important for risk management.
📈 Summary:
The chart indicates a potential long (buy) opportunity on XAU/USD, assuming the support zone holds and the price forms a higher low before targeting the 3,400 level. Risk is managed with a stop below the support and profit target near resistance.
Let me know if you want this setup converted into trade execution levels or a trading plan.
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.