XAUUSD-1H NEXT WEEK IDEA
I'm closely watching XAU/USD on the 1-hour chart. My plan is to wait for a potential retracement back to the $2665 level, possibly even as low as $2655, which I've marked as my buy zone. If price reacts positively in this area, I'll be looking for a long position aiming for the $2700 target.
The buy zone aligns with key Fibonacci retracement levels (50% and 61.8%), offering a strong confluence for a bullish setup. If price fails to hold the $2655 support, I'll reconsider my entry approach. For now, my focus is on this retracement before catching the next bullish leg.
Key levels:
- **Buy Zone:** $2665 to $2655
- **Stop Loss:** Below $2649.517
- **Take Profit:** $2700
This setup matches my strategy of entering high-probability trades with strong confluence and a favorable risk-to-reward ratio. Waiting for price action confirmation before entry.
The buy zone aligns with key Fibonacci retracement levels (50% and 61.8%), offering a strong confluence for a bullish setup. If price fails to hold the $2655 support, I'll reconsider my entry approach. For now, my focus is on this retracement before catching the next bullish leg.
Key levels:
- **Buy Zone:** $2665 to $2655
- **Stop Loss:** Below $2649.517
- **Take Profit:** $2700
This setup matches my strategy of entering high-probability trades with strong confluence and a favorable risk-to-reward ratio. Waiting for price action confirmation before entry.
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