GOLD ********* ⏳1 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational
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1️⃣ Channel breakout-H1 2️⃣ Risk sentiment around the global market 3️⃣ Parabolic movement 4️⃣ 1900.00 key psychological resistance 5️⃣ Approaching towards 1850.00 6️⃣ Minor correction expected 7️⃣ Technical support - Bear 8️⃣ Price is under POC-VOLUME 9️⃣ September low-Immediate resistance 🔟 Series of LH LL LH LL patterns #️⃣ Overall bearish trend
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📉 Technical bias-H1
Below 100,200 Exponential moving average RSI- Bounce from 30 level- Over sold bounce MACD-Still below the middle line, Red zone territory Stochastic - Reached 25 level about to cross-Short term bullish trend
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Key reversal area's 1900.00 Key psychological level 1850.00 September month low 1850.00 Previous double bottom area 1932.00 Dynamic support level 1840.00 Key reversal area, Counter trend 1947.00 Point of control 1935.00 October high area
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Bearish entry #Gold
Entry price - 1880.00
Take profit 01 - 1865.00 (150 pips) Take profit 02 - 1855.00 (250 pips) Take profit 03 - 1840.00 (400 pips)
🚫 Stop lose 1893.00 (130 pips)
⬇️ 2.24% Drop expected ⤴️ Account growth 0.68 : 2.24 ✅ Risk reward ratio 1 : 3
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