XAUUSD: 4HR Ready to Ride the Golden Wave
The price is trading around $2,321.83, hovering just above the 21 EMA indicating a potential bullish move.
The price has bounced off the support level at $2,317.74 and is showing signs of heading upwards.
Key Levels:
Support: $2,317.74
Resistance: $2,335.13, $2,350.00
Entry Strategy:
Buy Setup: Look for a strong bullish candle closing above the current level ($2,321.83) and maintaining above the 21 EMA. Confirmation above the $2,322.06 level would be ideal for entry.
🎯TP: $2,335.13
Stop-Loss: Place your stop-loss just below the support level at $2,317.74. This keeps your risk tight while aiming for a solid 1:3 risk-to-reward ratio.
The price has bounced off the support level at $2,317.74 and is showing signs of heading upwards.
Key Levels:
Support: $2,317.74
Resistance: $2,335.13, $2,350.00
Entry Strategy:
Buy Setup: Look for a strong bullish candle closing above the current level ($2,321.83) and maintaining above the 21 EMA. Confirmation above the $2,322.06 level would be ideal for entry.
🎯TP: $2,335.13
Stop-Loss: Place your stop-loss just below the support level at $2,317.74. This keeps your risk tight while aiming for a solid 1:3 risk-to-reward ratio.
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.