Gold is currently moving near a key resistance area at 3006 after a long bearish rally from 3033. 📉 Now, the price is showing signs of recovery, moving back up towards the M30 Order Block (OB). 🏗️
📏 1H Trendline & EMA Resistance:
A strong 1H trendline has formed, with the 200 EMA sitting just below — creating a double layer of resistance. This gives us two potential trade setups to watch closely. 👀
✅ Scenario 1:
If the price breaks and closes above the 1H trendline and holds its ground, we could see a continued push toward the M30 OB. 🚀
In this case, adding buy positions in layers on pullbacks could be a smart play.
If we notice any rejection from the EMA or trendline, that could be a signal to add more buys in stages. 🛑
✅ Scenario 2:
If the price taps the OB and shows clear rejection signals — such as wicks, bearish engulfing, or divergence — it could be a prime spot to sell. 🔻
The target? A ride back down to the recent lows, locking in profit along the way. 💰
⚡ Patience is key! Whether it's a breakout or a reversal, waiting for solid confirmation helps keep risk under control. 🎯
📏 1H Trendline & EMA Resistance:
A strong 1H trendline has formed, with the 200 EMA sitting just below — creating a double layer of resistance. This gives us two potential trade setups to watch closely. 👀
✅ Scenario 1:
If the price breaks and closes above the 1H trendline and holds its ground, we could see a continued push toward the M30 OB. 🚀
In this case, adding buy positions in layers on pullbacks could be a smart play.
If we notice any rejection from the EMA or trendline, that could be a signal to add more buys in stages. 🛑
✅ Scenario 2:
If the price taps the OB and shows clear rejection signals — such as wicks, bearish engulfing, or divergence — it could be a prime spot to sell. 🔻
The target? A ride back down to the recent lows, locking in profit along the way. 💰
⚡ Patience is key! Whether it's a breakout or a reversal, waiting for solid confirmation helps keep risk under control. 🎯
Trade active
Active Market has tapped the bearish OB and now its time to enter in trade to book some profitTrade closed: target reached
Market Give us solid move form bearish OB, we cover almost 160 pips. The does break the trend line and we know it went up to retest the OB so we entered and cover good profit.Follow for more updates
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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.