This is a technical analysis chart of XAU/USD (Gold vs. US Dollar) on a 1-hour timeframe, aiming to illustrate a potential bullish reversal setup. Here's a breakdown of what the chart is showing:
🔍 Key Components:
Downward Channel:
Price has been moving inside a descending channel.
The recent price action broke out of this channel, signaling a potential trend reversal.
Entry Point Zone:
Highlighted in yellow, this zone represents a support area where buying interest is expected.
The current price (around $3,319.715) is hovering just above this entry zone.
Fibonacci Retracement Level:
A level marked around 0.91 suggests a deep retracement, often associated with a potential reversal area.
Target Point:
The projected target zone is marked near $3,380, based on prior resistance and the measured move.
Price Action Plan:
The chart suggests a potential long trade:
Entry near the yellow support zone.
Target around the $3,380 resistance zone.
Stop-loss would likely be placed slightly below the yellow zone for risk management (not explicitly shown here).
Ichimoku Cloud:
The shaded area shows Ichimoku cloud zones, which are often used to identify support/resistance and trend direction.
Price is trying to break above the cloud, indicating a possible bullish trend shif
Trade active
TRADE ACTIVETrade closed: target reached
target 160 pips done
Join telegram free...
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
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.
Join telegram free...
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
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.