Gold Spot / U.S. DollarUpdated XAUUSD Analysis on the 1H Chart
For the 1H chart, we are observing the following trends:
1. DOWN Trend (25 Nov 2024)
Status: Partially completed
Key Levels:
1.618 Fibonacci expansion level reached at 2,619.74.
Full potential target of 2,589.89 remains unfulfilled.
2. DOWN Trend (25 Nov 2024 - end of 25 Nov 2024)
Status: Rejected by the next trend.
3. UP Trend (End of 25 Nov - 27 Nov 2024)
Status: Running
TP Target Zone: 2,706.55 - 2,711.37
This is a key level to watch, as it aligns with significant 1D chart targets.
Some retracement might occur in this zone.
4. Small UP Trend (28 Nov 2024)
Entry Levels: 2,635.15 - 2,638.59
TP Target: 2,678.96 - 2,682.40
Status: Active
5. New UP Trend (29 Nov 2024)
Entry Levels: 2,650.39 - 2,654.18
Stop Loss (SL): If 1H closes below 2,646.61.
TP Target: Not available until the trend completes. I will update this idea as more information becomes available.
Please share your thoughts in the comments below! Let me know if you see other patterns or opportunities, and I’ll keep updating this idea with new insights. Your feedback is always appreciated!
1. DOWN Trend (25 Nov 2024)
Status: Partially completed
Key Levels:
1.618 Fibonacci expansion level reached at 2,619.74.
Full potential target of 2,589.89 remains unfulfilled.
2. DOWN Trend (25 Nov 2024 - end of 25 Nov 2024)
Status: Rejected by the next trend.
3. UP Trend (End of 25 Nov - 27 Nov 2024)
Status: Running
TP Target Zone: 2,706.55 - 2,711.37
This is a key level to watch, as it aligns with significant 1D chart targets.
Some retracement might occur in this zone.
4. Small UP Trend (28 Nov 2024)
Entry Levels: 2,635.15 - 2,638.59
TP Target: 2,678.96 - 2,682.40
Status: Active
5. New UP Trend (29 Nov 2024)
Entry Levels: 2,650.39 - 2,654.18
Stop Loss (SL): If 1H closes below 2,646.61.
TP Target: Not available until the trend completes. I will update this idea as more information becomes available.
Please share your thoughts in the comments below! Let me know if you see other patterns or opportunities, and I’ll keep updating this idea with new insights. Your feedback is always appreciated!
Note
And please remember!! A missed trade is better than a lost trade!Trade active
Long order zone for T5 reached.Note
Resistance at 2,662.46Trade closed: stop reached
T3, T4 and T5 have all been rejected by the new formed down trend, which I will call T6. If T6 does not get rejected we could see a challenge for the 1D UP trend from September 2024 and a possible retest of this trend..Note
T6 (2,665.97 - 2,621.96) has a short entry zone from 2638.77 - 2643.96 with a SL if 1H close above 2649.16Note
T6 (not shown in the chart, it is confirmed a per my notes above with a TP at 2,581.
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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.