Trade Idea : XAUUSD LONG ( BUY LIMIT )
Technical Analysis:
1. Daily Chart: Strong bullish momentum with price breaking above previous resistance, supported by a high RSI (78.15), indicating overbought conditions but with continued buying pressure. MACD is bullish, with increasing histogram bars showing strong upward momentum.
2. 15-Minute Chart: Clear uptrend with higher highs and higher lows. RSI at 58.75 suggests room for further upside before overbought conditions. MACD is positive, confirming bullish momentum.
3. 3-Minute Chart: Short-term consolidation after a strong upward move. RSI at 37.14 suggests a potential pullback before continuation. MACD shows slight weakening but no bearish crossover yet.
Fundamental Analysis:
• Gold’s bullish momentum is likely fueled by safe-haven demand due to global economic uncertainties or potential dovish central bank policies.
• No immediate signs of reversal in the larger timeframes, supporting a continuation of the uptrend.
Trade Idea: Long Position
• Entry: 2917.00 (Near short-term support from the 3-minute consolidation zone)
• Stop Loss: 2906.00 (Below recent support and the psychological level of 2906.00)
• Take Profit: 2940.00 (2:1 Risk-Reward Ratio, aligned with the next resistance level on the Daily chart)
Rationale:
• Entering at 2917.00 provides a good risk-to-reward ratio with a protective stop below key support.
• The overall trend is bullish across all timeframes, and the 3-minute chart’s consolidation suggests a continuation of the uptrend.
XAUUSD
1. Daily Chart: Strong bullish momentum with price breaking above previous resistance, supported by a high RSI (78.15), indicating overbought conditions but with continued buying pressure. MACD is bullish, with increasing histogram bars showing strong upward momentum.
2. 15-Minute Chart: Clear uptrend with higher highs and higher lows. RSI at 58.75 suggests room for further upside before overbought conditions. MACD is positive, confirming bullish momentum.
3. 3-Minute Chart: Short-term consolidation after a strong upward move. RSI at 37.14 suggests a potential pullback before continuation. MACD shows slight weakening but no bearish crossover yet.
Fundamental Analysis:
• Gold’s bullish momentum is likely fueled by safe-haven demand due to global economic uncertainties or potential dovish central bank policies.
• No immediate signs of reversal in the larger timeframes, supporting a continuation of the uptrend.
Trade Idea: Long Position
• Entry: 2917.00 (Near short-term support from the 3-minute consolidation zone)
• Stop Loss: 2906.00 (Below recent support and the psychological level of 2906.00)
• Take Profit: 2940.00 (2:1 Risk-Reward Ratio, aligned with the next resistance level on the Daily chart)
Rationale:
• Entering at 2917.00 provides a good risk-to-reward ratio with a protective stop below key support.
• The overall trend is bullish across all timeframes, and the 3-minute chart’s consolidation suggests a continuation of the uptrend.
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.