Gold XAUUSD Possible Move 05.02.2025
Analysis of XAU/USD (Gold) Price Action
Market Overview
The Gold shows a bullish trend in gold prices with a recent upward move.
Key levels of interest have been marked for potential buy opportunities.
The price action suggests a retracement is expected before a continuation to the upside.
Key Levels
First Buy Zone: $2,843 - $2,845
A minor retracement into this zone could present a buying opportunity.
If price reacts strongly at this level, it could continue upward.
Second Buy Zone: $2,830 - $2,833
This is a deeper retracement zone, aligning with a strong support area.
If price fails to hold at the first buy zone, this becomes the next high-probability entry.
Resistance/Take Profit Targets:
First target near $2,859 - $2,865 (recent highs).
Trading Plan
Scenario 1: Buy from $2,843 - $2,845
Entry: $2,843 - $2,845
Stop Loss: Below $2,837
Take Profit: $2,859 - $2,865
Risk-Reward Ratio: ~1:2 or better
Scenario 2: Buy from $2,830 - $2,833
Entry: $2,830 - $2,833
Stop Loss: Below $2,822
Take Profit: $2,850 - $2,859
Risk-Reward Ratio: ~1:3
Conclusion
The overall bias remains bullish, looking at Trumps press talk yesterday.
The strategy involves waiting for pullbacks to key demand zones before entering long positions.
Price action near these levels should be monitored for confirmation signals (e.g., bullish rejection candles).
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Market Overview
The Gold shows a bullish trend in gold prices with a recent upward move.
Key levels of interest have been marked for potential buy opportunities.
The price action suggests a retracement is expected before a continuation to the upside.
Key Levels
First Buy Zone: $2,843 - $2,845
A minor retracement into this zone could present a buying opportunity.
If price reacts strongly at this level, it could continue upward.
Second Buy Zone: $2,830 - $2,833
This is a deeper retracement zone, aligning with a strong support area.
If price fails to hold at the first buy zone, this becomes the next high-probability entry.
Resistance/Take Profit Targets:
First target near $2,859 - $2,865 (recent highs).
Trading Plan
Scenario 1: Buy from $2,843 - $2,845
Entry: $2,843 - $2,845
Stop Loss: Below $2,837
Take Profit: $2,859 - $2,865
Risk-Reward Ratio: ~1:2 or better
Scenario 2: Buy from $2,830 - $2,833
Entry: $2,830 - $2,833
Stop Loss: Below $2,822
Take Profit: $2,850 - $2,859
Risk-Reward Ratio: ~1:3
Conclusion
The overall bias remains bullish, looking at Trumps press talk yesterday.
The strategy involves waiting for pullbacks to key demand zones before entering long positions.
Price action near these levels should be monitored for confirmation signals (e.g., bullish rejection candles).
Please like, follow and share.
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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.
✅Free Telegram Group
t.me/+gdXxCx5R3okwZTc0
Twitter 👇
twitter.com/QuinnGoldTrader
WhatsApp👇
wa.me/message/HRLMFQNPUGIRF1
t.me/+gdXxCx5R3okwZTc0
Twitter 👇
twitter.com/QuinnGoldTrader
WhatsApp👇
wa.me/message/HRLMFQNPUGIRF1
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.