Trade Idea: XAUUSD LONG (BUY LIMIT)
Technical Analysis
1. 1H Chart (Higher Timeframe Trend)
• Downtrend Reversal: Price was in a strong downtrend but is now bouncing off a key support near 2827-2830.
• MACD: Histogram is reducing bearish momentum, suggesting a possible trend reversal.
• RSI (14): Rising from oversold conditions (~54.89), indicating bullish momentum building up.
2. 15-Min Chart (Intraday Confirmation)
• Reversal Pattern: A sharp recovery from lows around 2849, forming higher lows.
• MACD: Bullish crossover with histogram turning positive, confirming bullish momentum.
• RSI (12): Nearing overbought levels (~68.23), but still has room for continuation.
3. 3-Min Chart (Entry Timing)
• Pullback to Support: Price is consolidating after a strong breakout above 2862.
• MACD: Still showing bullish structure but a minor pullback is visible.
• RSI (10): Neutral at 50.89, meaning price is neither overbought nor oversold, ideal for a continuation entry.
Fundamental Analysis
• Gold Demand: Potentially rising due to economic uncertainty, with investors looking for safe-haven assets.
• USD Weakness: If upcoming economic data (e.g., inflation, job reports) indicate a slowing U.S. economy, gold could gain strength.
• Market Sentiment: If risk-off sentiment continues, gold could push higher.
Trade Execution
Position: Long XAU/USD
• Entry: 2865 (After minor pullback confirmation)
• Stop Loss: 2855 (Below recent pullback low)
• Take Profit: 2890 (Near previous resistance level)
• Risk-Reward Ratio (RRR): 2.5:1
Rationale
• The uptrend reversal is forming on the 1H and 15M charts.
• Momentum indicators (MACD & RSI) support a bullish move.
• Strong demand and potential USD weakness could fuel further upside.
XAUUSD
1. 1H Chart (Higher Timeframe Trend)
• Downtrend Reversal: Price was in a strong downtrend but is now bouncing off a key support near 2827-2830.
• MACD: Histogram is reducing bearish momentum, suggesting a possible trend reversal.
• RSI (14): Rising from oversold conditions (~54.89), indicating bullish momentum building up.
2. 15-Min Chart (Intraday Confirmation)
• Reversal Pattern: A sharp recovery from lows around 2849, forming higher lows.
• MACD: Bullish crossover with histogram turning positive, confirming bullish momentum.
• RSI (12): Nearing overbought levels (~68.23), but still has room for continuation.
3. 3-Min Chart (Entry Timing)
• Pullback to Support: Price is consolidating after a strong breakout above 2862.
• MACD: Still showing bullish structure but a minor pullback is visible.
• RSI (10): Neutral at 50.89, meaning price is neither overbought nor oversold, ideal for a continuation entry.
Fundamental Analysis
• Gold Demand: Potentially rising due to economic uncertainty, with investors looking for safe-haven assets.
• USD Weakness: If upcoming economic data (e.g., inflation, job reports) indicate a slowing U.S. economy, gold could gain strength.
• Market Sentiment: If risk-off sentiment continues, gold could push higher.
Trade Execution
Position: Long XAU/USD
• Entry: 2865 (After minor pullback confirmation)
• Stop Loss: 2855 (Below recent pullback low)
• Take Profit: 2890 (Near previous resistance level)
• Risk-Reward Ratio (RRR): 2.5:1
Rationale
• The uptrend reversal is forming on the 1H and 15M charts.
• Momentum indicators (MACD & RSI) support a bullish move.
• Strong demand and potential USD weakness could fuel further upside.
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.