This chart analysis is based on a 30 minute chart of XAUUSD, highlighting a potential trade setup using Fair Value Gap (FVG), key resistance, and support zones.
The market is little choppy but we have support zone at 2911 if market breaks below this zone
than we have FVG standing at 2900.
Scenario 1:
We wait for the candle to break below 2911 zone than we take sell till the FVG zone.
Scenario 2:
When the market tap the FVG we take buy from that position
The market is little choppy but we have support zone at 2911 if market breaks below this zone
than we have FVG standing at 2900.
Scenario 1:
We wait for the candle to break below 2911 zone than we take sell till the FVG zone.
Scenario 2:
When the market tap the FVG we take buy from that position
Trade active
Market breaks below the Key support zone but it could be a trap for sellers we have to wait for some confirmation before going short.If the candle breaks and close below the zone and next candle takes out the previous one low than we can enter otherwise its a strong zone market could get direct reversal from there
Trade closed: target reached
As i mentioned wait for confirmation look how the market trap the sellers, i also told you guys the 2911 zone is a very crucial zone the and price respected it and give us massive winning pips to 250 pips. Those who took trade with this setup congrats to you guys.Follow for more updates and chart analysis
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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.