The chart you've shared is a 4-hour (4H) time frame of Gold Spot (XAUUSD) against the U.S. Dollar, showing some clear technical patterns and annotations. Here’s a breakdown and a suggested Trade Plan with Take Profit (TP) and Stop Loss (SL):
🧠 Technical Analysis:
Trend:
There is a strong bullish impulse (green arrow).
A potential bull flag or bullish pennant is forming.
A V-shaped recovery suggests momentum is back on the buyer’s side.
Fibonacci Levels:
0.382 retracement (3,352) was tested but not broken.
Current price is hovering around 3,325, close to 0.5 retracement.
Chart Pattern:
Consolidation after the impulse indicates accumulation phase.
Breakout from the consolidation could fuel another upward move.
Forecasted Move:
The blue arrow suggests bullish breakout continuation.
🧾 Trade Plan:
📈 Buy Setup (Bullish Continuation)
Entry: Around 3,325 (current level)
Take Profit (TP):
TP1: 3,383 (0.236 Fibonacci level / previous resistance)
TP2: 3,450 - 3,500 (next resistance / measured move target)
Stop Loss (SL):
SL: 3,290 (below recent swing low and consolidation support)
🔒 Risk Management:
Risk/Reward Ratio: ~1:2 or better.
Risking ~35 points for potential 60–175 point gain.
🧠 Technical Analysis:
Trend:
There is a strong bullish impulse (green arrow).
A potential bull flag or bullish pennant is forming.
A V-shaped recovery suggests momentum is back on the buyer’s side.
Fibonacci Levels:
0.382 retracement (3,352) was tested but not broken.
Current price is hovering around 3,325, close to 0.5 retracement.
Chart Pattern:
Consolidation after the impulse indicates accumulation phase.
Breakout from the consolidation could fuel another upward move.
Forecasted Move:
The blue arrow suggests bullish breakout continuation.
🧾 Trade Plan:
📈 Buy Setup (Bullish Continuation)
Entry: Around 3,325 (current level)
Take Profit (TP):
TP1: 3,383 (0.236 Fibonacci level / previous resistance)
TP2: 3,450 - 3,500 (next resistance / measured move target)
Stop Loss (SL):
SL: 3,290 (below recent swing low and consolidation support)
🔒 Risk Management:
Risk/Reward Ratio: ~1:2 or better.
Risking ~35 points for potential 60–175 point gain.
Our telegram channel daily update here guys t.me/GOLDTRDAINGSIGNAL11
Daily signals here
Daily signals here
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.
Our telegram channel daily update here guys t.me/GOLDTRDAINGSIGNAL11
Daily signals here
Daily signals here
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.