Trade Idea: XAUUSD LONG (MARKET)
Technical Analysis
1. Trend & Price Action
• On the H1 timeframe, gold is rebounding from a recent downtrend and has formed a higher low, indicating a potential reversal.
• The M15 timeframe confirms this rebound, with price breaking above the short-term resistance.
• The M3 timeframe shows price consolidating near the highs, which suggests accumulation before another move higher.
2. Indicators
• MACD
• H1: Bullish crossover, histogram turning positive.
• M15: Bullish crossover, supporting further upside.
• M3: Neutral but not showing strong divergence.
• RSI
• H1: 62.74, indicating strength but not overbought.
• M15: 54.50, still room for upside.
• M3: 42.20, slight pullback, allowing for better entry.
3. Support & Resistance Levels
• Support: 2878.40 (M15 confirmed level)
• Resistance: 2905.50 (H1 key level)
Fundamental Analysis
• Gold has strong bullish momentum due to a weakening USD. If upcoming economic data or geopolitical uncertainty supports safe-haven demand, XAU/USD will likely push higher.
• Recent rally suggests institutional buying, and if momentum continues, 2905-2910 is a reasonable target.
Entry: 2891.30 (Current price, allowing for a slight pullback)
• Stop Loss (SL): 2882.00 (Below the recent support on M15)
• Take Profit (TP): 2909.00 (Key resistance on H1)
Risk-Reward Ratio (RRR)
• Risk: 9.3 pips
• Reward: 17.7 pips
• RRR: 1:2
XAUUSD
1. Trend & Price Action
• On the H1 timeframe, gold is rebounding from a recent downtrend and has formed a higher low, indicating a potential reversal.
• The M15 timeframe confirms this rebound, with price breaking above the short-term resistance.
• The M3 timeframe shows price consolidating near the highs, which suggests accumulation before another move higher.
2. Indicators
• MACD
• H1: Bullish crossover, histogram turning positive.
• M15: Bullish crossover, supporting further upside.
• M3: Neutral but not showing strong divergence.
• RSI
• H1: 62.74, indicating strength but not overbought.
• M15: 54.50, still room for upside.
• M3: 42.20, slight pullback, allowing for better entry.
3. Support & Resistance Levels
• Support: 2878.40 (M15 confirmed level)
• Resistance: 2905.50 (H1 key level)
Fundamental Analysis
• Gold has strong bullish momentum due to a weakening USD. If upcoming economic data or geopolitical uncertainty supports safe-haven demand, XAU/USD will likely push higher.
• Recent rally suggests institutional buying, and if momentum continues, 2905-2910 is a reasonable target.
Entry: 2891.30 (Current price, allowing for a slight pullback)
• Stop Loss (SL): 2882.00 (Below the recent support on M15)
• Take Profit (TP): 2909.00 (Key resistance on H1)
Risk-Reward Ratio (RRR)
• Risk: 9.3 pips
• Reward: 17.7 pips
• RRR: 1:2
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.