Jan 21,2025 Gold Idea
Trading Strategyhttps://www.tradingview.com/chart/0rMKUP7J/
January 21, 2025
Gold held its ground above 2703–2706 USD/oz yesterday, leading to a breakout at 2711–2712 USD/oz during the Asian session. This bullish signal suggests favoring Buy trades for today.
Key Levels
Support Levels:
2711–2712 USD/oz
2703–2704 USD/oz
Resistance Levels:
2733–2735 USD/oz
1. Buying Opportunities (Bullish Continuation):
Enter Buy positions if the price stays above 2711–2712 USD/oz.
Initial target: 2733–2735 USD/oz
Extended target: 2749–2750 USD/oz
Place a Stop Loss below 2708 USD/oz.
2. Pullback to Support Levels:
If the price retraces to 2703–2704 USD/oz, look for a strong rebound to enter Buy positions.
Target: 2711–2712 USD/oz and beyond.
Set a Stop Loss below 2700 USD/oz.
3. Breakout Above Resistance:
If the price breaks above 2735 USD/oz with strong momentum, consider additional Buy positions.
Target: 2749–2750 USD/oz.
Place a Stop Loss below 2730 USD/oz.
January 21, 2025
Gold held its ground above 2703–2706 USD/oz yesterday, leading to a breakout at 2711–2712 USD/oz during the Asian session. This bullish signal suggests favoring Buy trades for today.
Key Levels
Support Levels:
2711–2712 USD/oz
2703–2704 USD/oz
Resistance Levels:
2733–2735 USD/oz
1. Buying Opportunities (Bullish Continuation):
Enter Buy positions if the price stays above 2711–2712 USD/oz.
Initial target: 2733–2735 USD/oz
Extended target: 2749–2750 USD/oz
Place a Stop Loss below 2708 USD/oz.
2. Pullback to Support Levels:
If the price retraces to 2703–2704 USD/oz, look for a strong rebound to enter Buy positions.
Target: 2711–2712 USD/oz and beyond.
Set a Stop Loss below 2700 USD/oz.
3. Breakout Above Resistance:
If the price breaks above 2735 USD/oz with strong momentum, consider additional Buy positions.
Target: 2749–2750 USD/oz.
Place a Stop Loss below 2730 USD/oz.
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.