XAUUSD GAP UP = BULLISH ?? 18-11-2024
Updated
FRIENDS..
Given that XAU/USD closed at 2561 on Friday and is now trading at 2590, with a high of 2597, this suggests a strong bullish momentum at the start of the week. Here’s what you should consider :
Buy if the price breaks above 2600 with strong volume set a stop loss near 2590 try to find confirmation m30 or above.
Sell if it fails to break 2597-2600 and starts reversing. In this case, set a stop loss above 2605.
Goodluck
always DYOR before opening position
Given that XAU/USD closed at 2561 on Friday and is now trading at 2590, with a high of 2597, this suggests a strong bullish momentum at the start of the week. Here’s what you should consider :
- The price has gapped up significantly from Friday. This often indicates strong buying interest, Maybe due to market news or positive sentiment over the weekend.
- The price is reaching 2597, which might act as a psychological resistance. If it breaks above this level and holds, it could indicate further upside potential
- The quick rally from 2561 to 2590 suggests strong momentum. If this continues, we could see a test of 2600 or higher
Buy if the price breaks above 2600 with strong volume set a stop loss near 2590 try to find confirmation m30 or above.
Sell if it fails to break 2597-2600 and starts reversing. In this case, set a stop loss above 2605.
Goodluck
always DYOR before opening position
Trade closed: target reached
closed at 2636.. as told break above 2600 with volume take long position
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