XAUUSD Analysis on the 1D Chart.
29 Nov. 2024
At the moment, XAUUSD remains in a bull run. The following trends have formed, with some continuing and others rejected:
UP Trend (04 Sep 2024 - 26 Sep 2024)
Status: Still running
Expected Take Profit (TP): Between 2,895.64 - 2,949.22
The 0.382 Fibonacci retracement level was recently tested and held, reinforcing the trend.
UP Trend (10 Oct 2024 - 30 Oct 2024)
Status: Rejected by the subsequent trend.
DOWN Trend (31 Oct 2024 - 14 Nov 2024)
Status: Rejected by the following trend.
UP Trend (14 Nov 2024 - 22 Nov 2024)
Status: Still running
Support levels: 2,606.58 - 2,632.74 (holding strongly)
Expected TP: 2,903.79
Once this TP level is reached, observe market reactions closely. A potential exists to extend gains toward the Sep trend's TP target.
Please share your thoughts in the comments below! I’d love to hear your perspective on these trends.
I’ll dive into the 1H chart in a separate idea to identify potential entry points for traders looking to capitalize on these movements. Stay tuned!
At the moment, XAUUSD remains in a bull run. The following trends have formed, with some continuing and others rejected:
UP Trend (04 Sep 2024 - 26 Sep 2024)
Status: Still running
Expected Take Profit (TP): Between 2,895.64 - 2,949.22
The 0.382 Fibonacci retracement level was recently tested and held, reinforcing the trend.
UP Trend (10 Oct 2024 - 30 Oct 2024)
Status: Rejected by the subsequent trend.
DOWN Trend (31 Oct 2024 - 14 Nov 2024)
Status: Rejected by the following trend.
UP Trend (14 Nov 2024 - 22 Nov 2024)
Status: Still running
Support levels: 2,606.58 - 2,632.74 (holding strongly)
Expected TP: 2,903.79
Once this TP level is reached, observe market reactions closely. A potential exists to extend gains toward the Sep trend's TP target.
Please share your thoughts in the comments below! I’d love to hear your perspective on these trends.
I’ll dive into the 1H chart in a separate idea to identify potential entry points for traders looking to capitalize on these movements. Stay tuned!
Note
And please remember!! A missed trade is better than a lost trade!
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