XAU/USD – Setting Two Pending Orders Before the Breakout
Gold (XAU/USD) is currently consolidating within a triangle pattern, which may lead to an impulsive breakout. Based on technical analysis, the best strategy is to set two pending orders to capture movement in either direction:
Buy Stop above 2826 – if the price breaks this level and holds, an upward move is expected.
Sell Stop below 2802 – if the price breaks downward, a further decline could follow.
Technical Analysis:
• Resistance level: 2826 – a breakout above this level could confirm the continuation of the uptrend.
• Support level: 2802 – a breakdown below this level may trigger a downward move.
• Expected scenario: The market is likely to pick a direction after breaking one of these key zones.
Trade Plan:
• Buy Stop → 2826
• Sell Stop → 2802
• Stop-loss placed beyond recent highs/lows.
Important: Watch for volume confirmation and price reaction when testing these levels.
Buy Stop above 2826 – if the price breaks this level and holds, an upward move is expected.
Sell Stop below 2802 – if the price breaks downward, a further decline could follow.
Technical Analysis:
• Resistance level: 2826 – a breakout above this level could confirm the continuation of the uptrend.
• Support level: 2802 – a breakdown below this level may trigger a downward move.
• Expected scenario: The market is likely to pick a direction after breaking one of these key zones.
Trade Plan:
• Buy Stop → 2826
• Sell Stop → 2802
• Stop-loss placed beyond recent highs/lows.
Important: Watch for volume confirmation and price reaction when testing these levels.
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