30-minute XAU/USD (Gold Spot vs. U.S. Dollar) , highlighting key support and resistance levels.
Key Observations:
1. Resistance Zones:
• Two areas are marked as “RESISTANCE,” where the price previously faced rejection and moved downward.
2. Strong Support:
• A strong support zone is marked, where the price bounced upward.
3. Entry Zone:
• Around 2,932, an Entry Zone is highlighted, indicating a potential breakout area.
4. Breakout Alert:
• If the price drops below 2,910, further downside movement is expected (marked in red).
5. Potential Trade Setup:
• If the price breaks above resistance, a buy trade could be considered.
• If the price breaks below support, a sell trade is likely.
This is a price action-based trading plan, focusing on support/resistance breakouts.
Key Observations:
1. Resistance Zones:
• Two areas are marked as “RESISTANCE,” where the price previously faced rejection and moved downward.
2. Strong Support:
• A strong support zone is marked, where the price bounced upward.
3. Entry Zone:
• Around 2,932, an Entry Zone is highlighted, indicating a potential breakout area.
4. Breakout Alert:
• If the price drops below 2,910, further downside movement is expected (marked in red).
5. Potential Trade Setup:
• If the price breaks above resistance, a buy trade could be considered.
• If the price breaks below support, a sell trade is likely.
This is a price action-based trading plan, focusing on support/resistance breakouts.
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.