Last week he had a trade from 2880 that ran for 1244 pips congragulations if you took it.
This week we are looking for a sell then leading into a buy at previous resistance.
Current Price Action:
Gold is trading near $2,984, slightly rejecting resistance.
The price is respecting the ascending channel with higher highs and higher lows.
Support & Resistance Levels:
Immediate Resistance: Around $2,998 - $3,000, psychological and technical resistance.
Key Support: 2,961 - $2,965 (potential buy zone).
Next Major Resistance: 3,021 - 3,030 (Fibonacci extension + trendline target).
Fibonacci Levels:
The 0.618 Fibonacci retracement around 2,964 aligns with a potential buy entry.
The 0.382 retracement at 2,996 acts as immediate resistance.
Trendlines & Channel:
Price is respecting the bullish channel.
A break above 3,000 could push XAU/USD toward 3,021 - 3,050.
If price breaks below 2,961, a retracement to 2,930 - 2,900 is possible.
Moving Averages:
Short-term EMA (White) is above the Green MA, signaling continued bullishness.
If the price holds above 2,965, bulls remain in control.
This week we are looking for a sell then leading into a buy at previous resistance.
Current Price Action:
Gold is trading near $2,984, slightly rejecting resistance.
The price is respecting the ascending channel with higher highs and higher lows.
Support & Resistance Levels:
Immediate Resistance: Around $2,998 - $3,000, psychological and technical resistance.
Key Support: 2,961 - $2,965 (potential buy zone).
Next Major Resistance: 3,021 - 3,030 (Fibonacci extension + trendline target).
Fibonacci Levels:
The 0.618 Fibonacci retracement around 2,964 aligns with a potential buy entry.
The 0.382 retracement at 2,996 acts as immediate resistance.
Trendlines & Channel:
Price is respecting the bullish channel.
A break above 3,000 could push XAU/USD toward 3,021 - 3,050.
If price breaks below 2,961, a retracement to 2,930 - 2,900 is possible.
Moving Averages:
Short-term EMA (White) is above the Green MA, signaling continued bullishness.
If the price holds above 2,965, bulls remain in control.
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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.
Related publications
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.