GOLD ( BREAKOUT CHANNEL ) (4H)
XAUUSD
HELLO TRADERS
TARGET LEVEL :
HELLO TRADERS
- Tendency , the price is under bearish pressure , after breakout channel .
- TURNING LEVEL (1) : the price of this level at 2,391$, so if the price breaking this level reach a resistance level (1) .
- TURNING LEVEL (2) : yesterday this level worked a support level , as mentioned breakout 2,391$ reach this level ,the price of this level at 2,365$ , so if the price breaking this level reach a support level (1) .
- RESISTANCE LEVEL (1) : this level around 2,420$ , for reach this resistance level the price need breaking a turning level (1) .
- RESISTANCE LEVEL (2) : around 2,440$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1)
- SUPPORT LEVEL (1) : this level around 2,340$, for reach this support level the price need breaking a turning level (2) .
- SUPPORT LEVEL (2) : support level at 2,320$ , for reach this level will be breaking by open 4h candle below support level (1) .
- CORRECTIVE LEVEL : currently price 2,374$ , have two scenario , first corrective 2,391 before dropping to touch a 2,365$ , then 2,340$ , second corrective 2,365$ to reach a 2,391$ , then breaking this level reach a resistance level (1).
TARGET LEVEL :
- RESISTANCE LEVEL : 2,420$ , 2,440$ ,
- SUPPORT LEVEL : 2,340$ , 2,320$ .
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