Trade Idea: XAUUSD Long ( BUY STOP )
Analysis:
1. Daily Chart:
• Strong uptrend with price making higher highs and higher lows.
• MACD is bullish, and RSI is at 62.67 (still below overbought territory).
• No major resistance above the current level, suggesting continuation.
2. 15-Min Chart:
• Price is recovering from a recent pullback.
• MACD is turning positive, signaling a potential bullish move.
• RSI at 53.30 suggests room for upside.
3. 3-Min Chart:
• Consolidation near 2916.88, indicating a possible breakout.
• MACD and RSI show signs of bullish momentum returning.
Trade Setup:
• Position: Long (Buy)
• Entry: 2920 (above recent consolidation)
• Stop-Loss (SL): 2908 (recent minor support)
• Take-Profit (TP): 2944 (next key resistance)
• Risk-Reward Ratio (RRR): 2:1
Fundamental Justification:
• Gold remains bullish due to inflation concerns and potential rate cut expectations from the Fed.
• No significant bearish catalyst, and momentum favors bulls.
XAUUSD
1. Daily Chart:
• Strong uptrend with price making higher highs and higher lows.
• MACD is bullish, and RSI is at 62.67 (still below overbought territory).
• No major resistance above the current level, suggesting continuation.
2. 15-Min Chart:
• Price is recovering from a recent pullback.
• MACD is turning positive, signaling a potential bullish move.
• RSI at 53.30 suggests room for upside.
3. 3-Min Chart:
• Consolidation near 2916.88, indicating a possible breakout.
• MACD and RSI show signs of bullish momentum returning.
Trade Setup:
• Position: Long (Buy)
• Entry: 2920 (above recent consolidation)
• Stop-Loss (SL): 2908 (recent minor support)
• Take-Profit (TP): 2944 (next key resistance)
• Risk-Reward Ratio (RRR): 2:1
Fundamental Justification:
• Gold remains bullish due to inflation concerns and potential rate cut expectations from the Fed.
• No significant bearish catalyst, and momentum favors bulls.
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.