XAUUSD GOLD ⇒ Sellers interested in retesting gold.
Hello, Traders!
As we all know, this week gold made ATH with a red candle and also did a retest to 2799, but this retest is not enough for the continuation of the bullish trend. Here I have presented my analysis regarding gold.
Currently, gold is trading at 2799 at the gold support level, as the new week begins in three hours, so gold can do a gap down opening with a strong volume candle, and we can see 2774 in gold because gold is in a strong bullish trend, so it should touch 2774, which is the golden zone of fib to continue its bullish trend.
Support Level: 2758 – 2767
Resistance Level: 2815 – 2819
Fib Golden Zone: 2773 – 2763.
Liquidity Zone: 2730 (strong low)
Because gold is trading in an ascending channel, our aim would be the ascending trendline, but our entry point should be the golden zone of fib.
Do not enter at ATH because it is the initial technical analysis, thus our buy entry is quite dangerous, so we will wait for a retest.
For now, we can take sell trades for scalping, but always utilize SL because SL is better than liquidation, thus I'm in for sell until 2763.
If you enjoy my analysis Please support my concept and follow me for more analysis.
Have a wonderful day, thank you!
As we all know, this week gold made ATH with a red candle and also did a retest to 2799, but this retest is not enough for the continuation of the bullish trend. Here I have presented my analysis regarding gold.
Currently, gold is trading at 2799 at the gold support level, as the new week begins in three hours, so gold can do a gap down opening with a strong volume candle, and we can see 2774 in gold because gold is in a strong bullish trend, so it should touch 2774, which is the golden zone of fib to continue its bullish trend.
Support Level: 2758 – 2767
Resistance Level: 2815 – 2819
Fib Golden Zone: 2773 – 2763.
Liquidity Zone: 2730 (strong low)
Because gold is trading in an ascending channel, our aim would be the ascending trendline, but our entry point should be the golden zone of fib.
Do not enter at ATH because it is the initial technical analysis, thus our buy entry is quite dangerous, so we will wait for a retest.
For now, we can take sell trades for scalping, but always utilize SL because SL is better than liquidation, thus I'm in for sell until 2763.
If you enjoy my analysis Please support my concept and follow me for more analysis.
Have a wonderful day, thank you!
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.